Robbins Geller Rudman & Dowd LLP announced that purchasers of GeneDx Holdings Corp. common stock between April 16, 2025 and May 4, 2026 have until August 3, 2026 to seek appointment as lead plaintiff in a securities class action lawsuit. The lawsuit alleges that GeneDx and certain executives made false or misleading statements and failed to disclose significant problems with the viability of Fabric Genomics, which GeneDx had agreed to acquire on April 16, 2025. On May 4, 2026, GeneDx reported a drop in adjusted gross margin from 74% to 69%, reduced projected earnings from $540-$555 million to $475-$490 million, and a $31.3 million impairment loss directly attributable to Fabric Genomics, causing its stock price to drop over 49%. The lead plaintiff process allows any investor who purchased shares during the class period to seek appointment, and an investor's ability to share in any potential recovery is not dependent upon serving as lead plaintiff.
GeneDx Holdings Corp.Securities class action lawsuit alleging false statements about Fabric Genomics acquisition, leading to stock drop over 49%.
Fabric Genomics is the subject of the lawsuit; its viability issues caused a $31.3 million impairment loss for GeneDx.