An investigation for investors in NeoGenomics, Inc. (NASDAQ: NEO) shares over potential securities laws violations by NeoGenomics, Inc. was announced.
San Diego, CA -- (SBWIRE) -- 05/11/2022 -- NeoGenomics, Inc is under investigation over potential securities laws violations in connection with certain financial statements.
Investors who purchased shares of NeoGenomics, Inc. (NASDAQ: NEO), have certain options and should contact the Shareholders Foundation at email@example.com or call +1(858) 779 - 1554.
The investigation by a law firm focuses on whether certain statements by NeoGenomics, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On November 4, 2021, NeoGenomics, Inc. reported its third quarter financial results. In addition, NeoGenomics announced a "leadership team transition". NeoGenomics said that its current CFO led the company through multiple acquisitions, financing events, and navigated the company through the financial challenges associated with the COVID-19 global pandemic and will be namad Chief Sustainability and Risk Officer as of January 1, 2022. NeoGenomics said that William Bonello, who currently is NeoGenomics' President of its Informatics Division, will be named CFO as of January 1, 2022.
On March 28, 2022, NeoGenomics, Inc. announced that its Chief Executive Officer "will step down as CEO and member of the Board, effective immediately." NeoGenomics, Inc. also announced that it "expects revenue for Q1 2022 may be below the low end of its prior guidance of $118 - $120 million and EBITDA for Q1 2022 will be below the low end of its prior guidance of $(15) - $(12) million." NeoGenomics disclosed that "[t]he larger than anticipated EBITDA loss was primarily driven by higher than anticipated Clinical Services cost of goods sold" and that it "has withdrawn its 2022 annual financial guidance issued February 23, 2022."
Shares of NeoGenomics, Inc. (NASDAQ: NEO) declined from $47.13 per share on November 1, 2021, to as low as $7.50 per share on May 10, 2022.
Those who purchased shares of NeoGenomics, Inc. (NASDAQ: NEO) have certain options and should contact the Shareholders Foundation.
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