| Company: | Genoptix Inc, |
| Ticker Symbol: | GXDX |
| Class Period: | Jul-31-09 to Jun-15-10 |
| Date Filed: | Dec-14-10 |
| Lead Plaintiff Deadline: | Feb-12-11 |
| Court: | Southern District of California |
| Allegations: | |
The Complaint charges that Genoptix and certain of its officers and directors violated federal securities laws by issuing materially false statements regarding the Company's business and financial results. Specifically, defendants hyped the Company's approach to hematology and oncology testing and diagnostics, projecting they would easily double or triple the size of the Company's market share in the next three to five years, while failing to disclose that Genoptix's business model was not working and was causing Genoptix to actually lose market share. As a result of defendants' false statements, Genoptix's stock traded as high as $38.79 per share on April 30, 2010.
On May 6, 2010, Genoptix announced first quarter 2010 financial results far below consensus. Then, on June 16, 2010, Genoptix issued a press release providing a first look at its second quarter 2010 performance and reducing revenue and earnings guidance for the full-year. On this news, Genoptix fell $5.69 per share to $17.19 per share on June 16, 2010, a drop of 25%.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
