NEWTOWN, Pa., June 13, 2025 /PRNewswire/ — Edelson Lechtzin LLP is investigating potential violations of the federal securities laws involving GeneDx Holdings Corp. (“GeneDx”) (NASDAQ: WGS), resulting from allegations of providing potentially misleading business information to the investing public.
If you have information that could assist in the GeneDx investigation, or if you are a GeneDx investor who suffered a loss and would like to learn more, you can provide your information HERE.
You can also contact attorney Eric Lechtzin of Edelson Lechtzin LLP by calling 844-563-5550 or via e-mail at [email protected].
THE COMPANY:
GeneDx is a biotechnology company specializing in clinical diagnostic services for rare and pediatric genetic disorders.
THE ALLEGED WRONGDOING:
On February 5, 2025, Grizzly Research, an investment research firm, published a report titled “Insiders Attest That GeneDx (Nasdaq: WGS) Is Actively Committing Widespread Fraud.” The report alleges that the Company’s “growth is largely an illusion, driven by fraudulent schemes and illegal tactics deliberately aimed at exploiting Medicaid and Medicare systems to inflate revenue artificially.” The report also claims GeneDx attempted to inflate its revenue through an illegal practice known as “code stacking.” The report claims GeneDx executives may be aware of an imminent risk to the company. CEO Katherine Stueland and CFO Kevin Feeley have “consistently sold their shares immediately upon vesting, without ever engaging in open market purchases.” On this news, the price of GeneDx stock plummeted $4.84 per share, or 6.72%, to close at $67.18 per share on February 5, 2025.
ABOUT EDELSON LECHTZIN LLP: Edelson Lechtzin LLP is a national class action law firm with offices in Pennsylvania and California. In addition to securities and investment fraud cases, our lawyers focus on class cases alleging violations of the federal antitrust laws, employee benefit plans under ERISA, wage theft, data security, and consumer fraud.
For more information, please contact:
Marc H. Edelson, Esq.
Eric Lechtzin, Esq.
EDELSON LECHTZIN LLP
411 S. State Street, Suite N-300
Newtown, PA 18940
Phone: 844-696-7492 or 215-867-2399 ext. 1
Email: [email protected]
Email: [email protected]
Web: www.edelson-law.com
This press release may be considered Attorney Advertising in some jurisdictions. No class has been certified in this case, so counsel does not represent you unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing now. Your ability to share in any potential future recovery depends not on serving as lead plaintiff.
SOURCE Edelson Lechtzin LLP
