(PROG) Long-term investor alert: Johnson Fistel investigates Progenity; should management be responsible for investors’ losses? – QNT Press Release

San Diego, June 19, 2021 (Global News Agency)-

Johnson Fistel, LLP is representing Progenity, Inc. (NASDAQ:program) Oppose certain current and former senior staff and directors.

In June 2020, Progenity completed its initial public offering (“IPO”), issuing approximately 6.7 million shares at a price of $15.00 per share.

A few months after the initial public offering, the federal court filed a class action lawsuit against the company. The lawsuit filed alleges that the defendant made material false and/or misleading statements and failed to disclose material unfavorable facts about the company’s business, operations and prospects. Specifically, the defendant failed to disclose to investors: (1) Progenity overcharged government payers by USD 10.3 million in 2019 and early 2020, so…

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