LEAD PLAINTIFF DEADLINE IS NOVEMBER 7, 2022
NEW YORK, Sept. 16, 2022 /PRNewswire/ -- Wolf Haldenstein Adler Freeman & Herz LLP reminds investors that a federal securities class action lawsuit has been filed in the United States District Court for the District of Connecticut on behalf of investors who purchased or acquired the securities of Sema4 Holdings Corp. ("Sema4" or the "Company") (NASDAQ: SMFR) between March 14, 2022 and August 15, 2022, inclusive (the "Class Period").
All investors who purchased the shares of Sema4 Holdings Corp.and incurred losses are advised to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses in Sema4 Holdings Corp. you may, no later than November 7, 2022, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in Sema4 Holdings Corp.
PLEASE CLICK HERE TO JOIN THE CASE
Sema4 is a health company that uses artificial intelligence to enable personalized medicine. The Company's platform leverages longitudinal patient data, AI-driven predictive modeling, and genomics in combination with other data to deliver better outcomes for patients. Sema4 derives the majority of its revenue from Women's Health and Oncology diagnostic solutions.
The filed complaint alleges that Defendants made materially false and misleading statements throughout the Class Period. Specifically, Plaintiff alleges that Defendants failed to disclose:
- that there was a significant risk that Sema4 would reverse a material amount of previously recognized revenue that it could not recoup from third party payors;
- that the Company was experiencing declining selling prices for its reproductive health segment; and
- that, as a result of the foregoing, Sema4's financial results would be adversely affected.
On August 15, 2022, after the market closed, Sema4 announced changes to its research and development leadership team, including that Defendant Eric Schadt was stepping down from his roles as President and Chief R&D Officer. The Company also disclosed that it was eliminating approximately 13% of its workforce as part of a series of restructuring and corporate realignments.
During a conference call, Sema4 revealed 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, Sema4's stock fell $0.80, or 33.3%, to close at $1.60 per share on August 16, 2022.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735 or via e-mail at classmember@whafh.com
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Patrick Donovan, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, donovan@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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SOURCE Wolf Haldenstein Adler Freeman & Herz LLP
