Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC (“KSF”), announces that KSF has commenced an investigation into Progenity, Inc. (NasdaqGM: PROG).
In August 2020, the Company disclosed that an audit uncovered it had overbilled the U.S. government by $10.3 million more than previously disclosed due to the incorrect use of a billing code, the same “discontinued legacy billing practices” practices that the Company had previously represented had been “remediated.”
The Company and certain of its executives have been sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws, which is ongoing.
KSF’s investigation is focusing on whether Progenity’s officers and/or directors breached their fiduciary duties to Progenity’s shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Progenity shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn (email@example.com), or fill out the form on this page.