Gibbs Law Group Investigates Potential Securities Law Violations
Shares of NeoGenomics Inc. dropped more than 20% on March 28th, 2022, after the company announced disappointing guidance in its quarterly report, as well as the departure of its CEO Mark Mallon. Gibbs Law Group is investigating a potential NeoGenomics Securities Class Action Lawsuit on behalf of shareholders who lost money in NeoGenomics Inc. (NASDAQ: NEO).
To speak with an attorney regarding this class action lawsuit investigation, click here or call (888) 410-2925.
On Monday, March 28th, 2022, shares of the health-testing company NeoGenomics dropped sharply after announcing in its quarterly report that Mark Mallon will be stepping down after only a year as company CEO, and that the company will miss guidance and rescind its forecast for the entire year. According to Marketwatch, NeoGenomics’ stock has been slipping since a November report announced disappointing guidance. In the past six months, the company has lost more than 60% of its value, dropping from a market capitalization of $6 billion at times, to around $2.2 billion at market close on Monday March 28th.
According to Investor’s Business Daily, Needham analyst Mike Matson stated the possibility that Mallon invested too much in NeoGenomics minimum residual disease test, which searches for cancer in a patient’s blood following treatment. These investments would have affected NeoGenomics’ earnings before interest, taxes, depreciation and amortization, or EBITDA.
Following this news, NeoGenomics’ stock price plummeted more than 20% on March 28th, 2022, causing significant harm to investors.
What Should NeoGenomics Investors Do?
If you invested in NeoGenomics, visit our website or contact our securities team directly at (888) 410-2925 to discuss how you may be able to recover your losses. Our investigation concerns whether NeoGenomics has violated federal securities laws by providing false or misleading statements to investors.
About Gibbs Law Group
Gibbs Law Group represents investors throughout the country in securities litigation to correct abusive corporate governance practices, breaches of fiduciary duty, and proxy violations. The firm has recovered over a billion dollars for its clients against some of the world’s largest corporations, and our attorneys have received numerous honors for their work, including “Best Lawyers in America,” “Top Plaintiff Lawyers in California,” “California Lawyer Attorney of the Year,” “Class Action Practice Group of the Year,” “Consumer Protection MVP,” and “Top Women Lawyers in California.”
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