NEW YORK, Dec. 09, 2022 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announce that a securities class action lawsuit has been filed in the United States District Court for the Southern District of New York on behalf of any person or entity that purchased the securities of NeoGenomics , Inc. (“NeoGenomics” or the “Company”) NEO between February 27, 2020 and April 26, 2022, both dates inclusive (the “Class Period”).

The complaint alleges that the defendants made false and/or misleading statements and/or failed to disclose the following: (1) It was not a “one-stop shop” for cancer testing because it did not offer the most technologically advanced NGS testing it led a significant decrease in revenue as current and potential customers turned elsewhere for their testing needs; (2) costs were not fixed because the Company had to hire additional staff to perform more complex custom tests required by customers using the Company’s legacy testing portfolio, resulting in operational challenges, reduced laboratory efficiencies and increased test turnaround times; and as a result (3) the Company has violated federal health care laws and regulations regarding fraud, waste and abuse. As the true details emerged, the lawsuit alleges that investors suffered damage.

Investors who have purchased or otherwise acquired NeoGenomics stock should contact the company before February 6, 2023 Lead Plaintiff’s Application Deadline. A lead plaintiff is a representative party acting on behalf of other group members in conducting the litigation. If you would like to discuss your rights or interests related to this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. by Gainey McKenna & Egleston at (212) 983-1300 or by email at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the company.