NTRA - NATERA ALERT: Bragar Eagel & Squire P.C. is Investigating Natera Inc. on Behalf of Long-Term Stockholders and Encourages Investors to Contact the Firm | Benzinga
NEW YORK, May 14, 2024 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against Natera, Inc. (NASDAQ:NTRA) on behalf of long-term stockholders following a class action complaint that was filed against Natera on March 10, 2022 with a Class Period from February 26, 2020 to April 19, 2022. Our investigation concerns whether the board of directors of Natera have breached their fiduciary duties to the company.
Natera, a Delaware corporation with principal executive offices in Austin, Texas, offers genetic testing in the areas of women's health, oncology, and organ health. Among other things, the Company produces and markets a non-invasive prenatal test ("NIPT") called "Panorama," and a screening test for kidney transplant failure called "Prospera." Natera's common stock trades on the NASDAQ under the ticker symbol "NTRA."
According to the complaint, throughout the Class Period, Defendants repeatedly assured investors that Panorama was reliable, that Prospera was more accurate than competing tests, and that Natera's growth was driven by its superior technology and customer experience.
The filed complaint further alleges that, however, investors began to learn the truth on January 1, 2022, when The New York Times published a detailed report calling into question the accuracy of certain prenatal tests manufactured by Natera and other diagnostic testing companies. Among other things, The New York Times reported that Natera's positive results for several genetic disorders were incorrect more than 80 percent of the time.
On this news, the price of Natera common stock fell $5.35 per share, or approximately 6% over two trading days, from a close of $93.39 per share on December 31, 2021, to close at $88.04 per share on January 4, 2022.
Less than two weeks later, on January 14, 2022, the Campaign for Accountability— a nonprofit watchdog group—filed a complaint with the SEC requesting an investigation as to whether "Natera repeatedly claimed ...