SAN DIEGO, Dec. 11, 2022 (GLOBE NEWSWIRE) —

The class: Robbins LLP reminds investors that a shareholder has filed a class action lawsuit on behalf of all investors who have purchased or otherwise acquired NeoGenomics, Inc. NEO Securities between February 27, 2020 and April 26, 2022 for violating the Securities Exchange Act of 1934. NeoGenomics provides cancer testing and testing services to physicians, clinics, hospitals and pharmaceutical companies. The Company’s test portfolio includes next-generation sequencing (“NGS”) tests.

What now: Shareholders in a similar situation may be eligible to participate in the class action lawsuit against NeoGenomics. Shareholders who wish to be lead plaintiffs in the class action must file their filings by February 6, 2023. A lead plaintiff is a representative party acting on behalf of another class action member in conducting the litigation. You do not have to be present at the case to be eligible for a recovery. Click for more information here.

All representations are on a contingency fee basis. Shareholders pay no fees or costs.

What is it about in this case: NeoGenomics, Inc. (NEO) has misled investors about the quality of its tests and ability to set costs

According to the complaint, during the class action, defendants misrepresented to investors that it had a “comprehensive menu” of cancer tests that positioned it as a “single point of contact” for pathologists who needed cancer tests. Defendants further alleged that NeoGenomics could “use” the alleged “fixed cost” structure of its business to improve profitability as sales increase.

In contrast: (i) NeoGenomics was far from being a “one-stop-shop” for cancer testing as it did not offer the most technologically advanced NGS tests, resulting in a significant drop in sales as current and potential customers went elsewhere for their testing went test needs; (ii) the Company’s costs were not fixed because NeoGenomics had to hire additional staff to perform more complex custom tests required by…