NEW ORLEANS, Sept. 13, 2022 (GLOBE NEWSWIRE) — ClaimsFiler, a FREE shareholder information service, reminds investors that they have until November 7, 2022 to file lead plaintiff applications in a securities class action lawsuit against Sema4 Holdings Corp. (NasdaqGS: SMFR, SMFRW), if they purchased the Company’s securities between March 14, 2022 and August 15, 2022, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Connecticut.
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Sema4 investors should visit us at https://claimsfiler.com/cases/nasdaq-smfr/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Sema4 and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On August 15, 2022, post-market, the Company disclosed that its President and Chief R&D Officer was stepping down from those roles, that it was eliminating approximately 13% of its workforce as part of a series of restructuring and corporate realignments, and that it had “reversed $30.1 million of revenue this quarter related to prior periods,” in connection with negotiations with “one of [Sema4’s] larger commercial payors regarding the potential recoupment of payments for Sema4 carrier screening services rendered from 2018 to early 2022.”
On this news, shares of Sema4 fell $0.80, or 33.3%, to close at $1.60 per share on August 16, 2022, on unusually heavy trading volume.
The case is Helo v. Sema4 Holdings Corp., et al., Case No. 22-cv-01131.
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