NEW ORLEANS, May 27, 2022 /PRNewswire/ — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr.remind investors that they have until July 22, 2022 to file lead plaintiff claims in a securities class action lawsuit against CareDx, Inc. (“CareDx” or the “Company”) (NasdaqGM: CDNA), if they purchased the Company’s stock between February 24, 2021 and May 5, 2022, inclusive (the “Class Period”). This action is in progress in United States District Court for the Northern District of California.

What you can do

If you have purchased shares of CareDx as above and wish to discuss your legal rights and how this matter may affect you and your right to recover your economic loss, you may, at no obligation or cost to you , contact KSF Managing Partner Lewis Kahn toll-free. -toll free at 1-877-515-1850 or by email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgm-cdna/ to learn more. If you wish to act as lead plaintiff in this class action, you must submit a motion to the court in July 22, 2022.

About the trial

CareDx and certain of its officers are accused of failing to disclose material information during the Class Period, in violation of federal securities laws.

On October 28, 2021, the company revealed that it was the subject of at least three government investigations related to its “accounting and reporting practices”, including the recent receipt of a request for a civil investigation (“CID”) ) from the United States Department of Justice (“DOJ”) requesting the company to produce documents as part of the DOJ’s investigation into the False Claims Act. On the news, CareDx shares fell 27% from a closing price of $70.34 per share on October 28, 2021at a closing price of $51.00 per share on October 29, 2021.

Then, on May 5, 2022post-marketing, the company announced its first quarter 2022 results, revealing testing services revenue well below analysts’ expectations and a further decline in the average test selling price in which the company’s average price fell 4.9% from the last quarter of 2021 On this news, CareDx shares fell another 18.5% from a closing price of $31.66 per share on May 5, 2022at a closing price of $25.87 per share on May 6, 2022.

The case is Plumbers and Pipefitters Local Union #295 Pension Fund c. CareDx, Inc., et al., No. 3:22-cv-03023.

About Kahn Swick & Foti, LLC

KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s leading securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, fund managers and retail investors – in seeking recoveries for investment losses resulting from corporate fraud or malfeasance by listed companies. KSF has offices in New York, California, Louisiana and New Jersey.

To learn more about KSF, you can visit www.ksfcounsel.com.

Contact:
Kahn Swick & Foti, LLC
Lewis KahnManaging Partner
[email protected]
1-877-515-1850
1100 Poydras Street, Suite 3200
New Orleans, LA 70163

SOURCE Kahn Swick & Foti, LLC