RADNOR, PA / ACCESSWIRE / May 29, 2018 / The law firm of Kessler Topaz Meltzer & Check, LLP reminds Myriad
Genetics, Inc. (NASDAQ: MYGN) ("Myriad") investors that a class action lawsuit has been filed against Myriad on behalf of
purchasers of Myriad common shares between August 13, 2014 and March 12, 2018, inclusive (the "Class
Period").
REMINDER: Investors who purchased Myriad securities during the Class Period may,
no later than June 19, 2018, seek to be appointed as a lead plaintiff representative of the class. For
additional information or to learn how to participate in this action please visit https://www.ktmc.com/new-cases/myriad-genetics-inc#join.
According to the complaint, Myriad develops and markets molecular diagnostic products to provide physicians with information to
help guide the care of their patients, to prevent disease, delay the onset of disease, and catch disease at an early stage. Myriad
purports to employ a variety of proprietary techniques designed to provide an understanding of the genetic basis of disease and the
role of genes in the onset, progression and treatment of disease. In September 2013, Myriad launched its proprietary 25-gene myRisk
Hereditary Cancer test ("myRisk"), which includes testing for multiple genes associated with cancer, including BRCA1 and BRCA2,
both of which are associated with breast and ovarian cancer.
The Class Period commences on August 13, 2014, when Myriad filed an Annual Report on Form 10-K with the SEC, announcing the
company's financial and operating results for the quarter and fiscal year ended June 30, 2014.
According to the complaint, on March 12, 2018, Myriad disclosed that it had received a subpoena from the Department of Health
and Human Services, Office of Inspector General, in connection with "an investigation into possible false or otherwise improper
claims submitted for payment under Medicare and Medicaid," specifically relating to Myriad's hereditary cancer testing. The
subpoena covers a time period from January 1, 2014 - less than four months after the September 2013 launch of Myriad's myRisk test
- through the date of the subpoena's issuance. Following this news, Myriad's share price fell $4.01, or 12.14%, to close at $29.01
on March 13, 2018.
The complaint alleges that, throughout the Class Period, the defendants made false and/or misleading statements and/or failed to
disclose that: (i) Myriad was submitting false or otherwise improper claims for payment under Medicare and Medicaid for the
company's hereditary cancer testing; (ii) the foregoing conduct would foreseeably subject Myriad to heightened regulatory scrutiny
and/or enforcement action; (iii) Myriad's revenues from its hereditary cancer testing were in part the product of improper conduct
and unlikely to be sustainable; and (iv) as a result, Myriad's public statements were materially false and misleading at all
relevant times.
Investors who wish to discuss this action and their legal options are encouraged to contact Kessler Topaz Meltzer & Check, LLP
(James Maro, Jr., Esq. or Adrienne Bell, Esq.) at (888) 299-7706 or at info@ktmc.com.
Myriad investors may, no later than June 19, 2018, seek to be appointed as a lead plaintiff
representative of the class through Kessler Topaz Meltzer & Check, or other counsel, or may choose to do nothing and remain an
absent class member. A lead plaintiff is a representative party who acts on behalf of all class members in directing the
litigation. In order to be appointed as a lead plaintiff, the Court must determine that the class member's claim is typical of the
claims of other class members, and that the class member will adequately represent the class in the action. Your ability to share
in any recovery is not affected by the decision of whether or not to serve as a lead plaintiff.
Kessler Topaz Meltzer & Check prosecutes class actions in state and federal courts throughout the country. Kessler Topaz Meltzer
& Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and
individual investors from the United States and around the world. The firm represents investors, consumers and whistleblowers
(private citizens who report fraudulent practices against the government and share in the recovery of government dollars). The
complaint in this action was not filed by Kessler Topaz Meltzer & Check. For more information about Kessler Topaz Meltzer & Check,
please visit www.ktmc.com.
CONTACT:
Kessler Topaz Meltzer & Check, LLP
James Maro, Jr., Esq.
Adrienne Bell, Esq.
280 King of Prussia Road
Radnor, PA 19087
(888) 299-7706
(610) 667-7706
info@ktmc.com
SOURCE: Kessler Topaz Meltzer & Check, LLP
