Genoptix, Inc.
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Genoptix, Inc. Securities Settlement
The lawsuit was settled for $7.7 million in cash on February 10, 2014. The following is a summary of the proceedings in this lawsuit: ‘This Litigation alleges that Genoptix and certain of its executives violated the federal securities laws by falsely representing throughout the Class Period the true level of demand for the Company core product diagnostic testing services for cancers of the blood and bone marrow by its primary customers hematologists and oncologists operating private practices. Lead Plaintiff alleges that when Defendants disclosed the truth about the Company financial results and the demand for the Company core product, Class Members suffered damages as a result of the decline in the price of Genoptix Publicly Traded Securities.’