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Did you lose money on investments in Natera? If so, please visit Natera, Inc. Shareholder Class Action Lawsuit or contact Peter Allocco at (212) 951-2030 or pallocco@bernlieb.com to discuss your rights.
NEW YORK, April 28, 2022 /PRNewswire/ — Bernstein Liebhard LLP announces that a securities class action lawsuit has been filed on behalf of investors who purchased or acquired the common stock of Natera, Inc. (“Natera” or the “Company”) NTRA between February 26, 2020 and April 19, 2022, inclusive (the “Class Period”). The lawsuit was filed in the United States District Court for the Western District of Texas and alleges violations of the Securities Exchange Act of 1934.
Natera 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.” 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.
Plaintiff alleges that Defendants’ statements were materially false and misleading when made because: (1) Panorama was not reliable and resulted in high rates of false positives; (2) Prospera did not have superior precision compared to competing tests; (3) as a result of Defendants’ false and misleading claims about Natera’s technology, the Company was exposed to substantial legal and regulatory risks; and (4) Natera relied upon deceptive sales and billing practices to drive its revenue growth.
On January 1, 2022, 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. The New York Times reported that Natera’s positive results for several genetic disorders were incorrect more than 80…
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