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 in 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%. The lead plaintiff will act on behalf of all class members and may select a law firm to litigate the case, though investors can share in any potential recovery without serving as lead plaintiff.
GeneDx Holdings Corp.Class action lawsuit alleging false statements and nondisclosure about Fabric Genomics viability, causing stock drop.
Fabric Genomics is the acquired entity with viability problems, leading to impairment loss and earnings miss.