WGS CLASS ACTION NOTICE: Barrack, Rodos & Bacine Files Securities Fraud Lawsuit On Behalf Of GeneDx Holdings Corp. Investors
PHILADELPHIA, June 04, 2026 (GLOBE NEWSWIRE) -- Barrack, Rodos & Bacine (“BRB”) announces that it has filed a class action lawsuit in the United States District Court for the District of Connecticut, captioned Basma v. GeneDx Holdings Corp., et al., Case No. 3:26-cv-00880, on behalf of persons and entities that purchased or otherwise acquired GeneDx Holdings Corp. (“GeneDx” or the “Company”) (NASDAQ: WGS) securities between April 16, 2025, and May 4, 2026, inclusive (the “Class Period”). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”).
Investors are hereby notified that they have 60 days from the date of this notice to move the Court to serve as lead plaintiff in this action.
IF YOU SUFFERED A LOSS ON YOUR GENEDX INVESTMENTS, CLICK HERE TO INQUIRE ABOUT POTENTIALLY PURSUING CLAIMS TO RECOVER YOUR LOSS UNDER THE FEDERAL SECURITIES LAWS, INCLUDING SERVING AS A LEAD PLAINTIFF IN THE LAWSUIT.
What Happened?
On May 4, 2026, the price of the Company's shares closed at $67.93. After hours, the Company disclosed that its Q1 financial results had missed for both its exome and genome lines, and cut its 2026 guidance from $540-555 million to $475-490 million.
During the related earnings call, the Company disclosed that the average reimbursement rate came in at $3,300, or $200 below expectations. It also disclosed that it had taken a goodwill impairment charge of $31.3 million as a part of the Fabric Genomics acquisition – after paying $36.5 million for the Company only a year before.
On this news, GeneDx’s share price fell over 49%, or $33.42 per share, from the close on the previous day.
What Is the Lawsuit About?
The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, it alleges that Defendants failed to disclose to investors that: (1) the Company may have misled investors about the importance of Fabric Genomics; (2) as a result, the Company’s margins would suffer; (3) the company’s average reimbursement rates were not as “durable” as previously disclosed; (4) as a result of the foregoing, the Company’s gross margins would decline; and (5) as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis.
Contact Us to Participate or Learn More:
If you wish to move for appointment as a lead plaintiff, learn more about this action, or if you have any questions concerning this announcement or your rights or interests with respect to these matters, please contact us:
Mark Stein, Director of Investigations
Barrack, Rodos & Bacine
2001 Market Street, Suite 3300
Philadelphia, PA 19103
Email: investoralert@barrack.com
Telephone: 215-963-0600
Visit our website at www.barrack.com
If you inquire by email, please include your mailing address, telephone number and number of shares purchased.
To be a member of the Class you need not take any action at this time; you may retain counsel of your choice or take no action and remain an absent member of the Class.
This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and ethical rules.
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