Gibbs Law Group Investigates Potential Securities Law Violations
Shares of NeoGenomics Inc. plummeted more than 20% on March 28th, 2022, after the company announced disappointing guidance in its quarterly report, in addition to the departure of its CEO Mark Mallon. On May 31, 2022, InvestorsObserver gave NeoGenomics a Neutral score. Gibbs Law Group is investigating a potential NeoGenomics Securities Class Action Lawsuit on behalf of shareholders who lost money in NeoGenomics Inc. (NASDAQ: NEO).
To speak with an attorney regarding this class action lawsuit investigation, click here or call (888) 410-2925.
On Monday, March 28th, 2022, shares of the health-testing company NeoGenomics dropped after announcing in its quarterly report that CEO Mark Mallon will be exiting after only a year as in the role, and that the company will miss guidance and rescind its forecast for the entire year. According to Marketwatch, NeoGenomics’ stock has been losing ground since a November 2021 report announced disappointing guidance. In the past year, NeoGenomics has lost roughly 76%. of its value, according to Yahoo Finance, steeply dropping from a market capitalization of $6 billion at times, to around $1.01 billion at market close on Friday, June 3, 2022.
According to Investor’s Business Daily, Needham analyst Mike Matson stated the possibility that Mallon invested too much in NeoGenomics minimum residual disease test, which searches for cancer in a patient’s blood following treatment. These investments would have influenced NeoGenomics’ earnings prior to interest, taxes, depreciation and amortization, or EBITDA.
Following this news, NeoGenomics’ stock price dropped more than 20% on March 28th, 2022, causing significant harm to investors.
On May 12th, 2022, NeoGenomics announced the appointment of Lynn Tetrault, Esq. as Chair of the Board and Interim CEO. Ms. Tetrault has been serving as Executive Chair since the company’s previous CEO Mark Mallon agreed to step down in March 2022.
What Should NeoGenomics Investors Do?
If you invested in NeoGenomics, visit our website or contact our securities team directly at (888) 410-2925 to discuss how you may be able to recover your losses. Our investigation concerns whether NeoGenomics has violated federal securities laws by providing false or misleading statements to investors.
About Gibbs Law Group
Gibbs Law Group represents investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Class Action Practice Group of the Year,” “Consumer Protection MVP,” and “Top Women Lawyers in California.”
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