NEW ORLEANS–(BUSINESS WIRE)–Kahn Swick & Foti, LLC («KSF») and KSF partner, the former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until November 7, 2022 to file lead plaintiff applications in a securities class action lawsuit against Sema4 Holdings Corp. (NasdaqGS: SMFR, SMFRW), if they purchased the Company’s securities between March 14, 2022 and August 15, 2022, inclusive (the “Class Period”). This action is pending in the United States District Court for the District of Connecticut.
What You May Do
If you purchased securities of Sema4 and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgs-smfr/ to learn more. If you wish to serve as a lead plaintiff in this class action by overseeing lead counsel with the goal of obtaining a fair and just resolution, you must request this position by application to the Court by November 7, 2022.
About the Lawsuit
Sema4 and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On August 15, 2022, post-market, the Company disclosed that its President and Chief R&D Officer was stepping down from those roles, that it was eliminating approximately 13% of its workforce as part of a series of restructuring and corporate realignments, and that it had “reversed $30.1 million of revenue this quarter related to prior periods,” in connection with negotiations with “one of [Sema4’s] larger commercial payors regarding the potential recoupment of payments for Sema4 carrier screening services rendered from 2018 to early 2022.”
On this news, shares of Sema4 fell $0.80, or 33.3%, to close at $1.60 per share on August 16, 2022, on unusually heavy trading volume.
The case is Helo v. Sema4 Holdings Corp., et al., Case No. 22-cv-01131.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking recoveries for investment losses emanating from corporate fraud or malfeasance by publicly traded companies. KSF has offices in New York, California, Louisiana and New Jersey.
To learn more about KSF, you may visit www.ksfcounsel.com.
Contacts
Kahn Swick & Foti, LLC
Lewis Kahn, Managing Partner
[email protected]
1-877-515-1850