Robbins Geller Rudman & Dowd LLP announced that purchasers of GeneDx Holdings Corp. common stock between April 16, 2025 and May 4, 2026 have until Monday, August 3, 2026 to seek appointment as lead plaintiff in a class action lawsuit. The lawsuit alleges that GeneDx and certain top executives made false or misleading statements and failed to disclose significant problems with the viability of Fabric Genomics, which GeneDx 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 the stock price to drop over 49%. Investors who suffered substantial losses can contact the firm to serve as lead plaintiff, though participation in any recovery does not require serving in that role.
GeneDx Holdings Corp.Class action lawsuit alleges false statements about Fabric Genomics acquisition; company reported impairment loss and lowered guidance, causing stock drop.
Fabric Genomics is the subject of alleged viability problems leading to impairment loss and lawsuit.