NEW ORLEANS, May 20, 2022 /PRNewswire/ -- ClaimsFiler, a FREE shareholder information service, reminds investors that they have until June 27, 2022 to file lead plaintiff applications in a securities class action lawsuit against Natera, Inc. (NasdaqGS: NTRA), if they purchased the Company's shares between February 26, 2020 and April 19, 2022, inclusive (the "Class Period"). This action is pending in the United States District Court for the Western District of Texas.
Natera investors should visit us at https://claimsfiler.com/cases/nasdaq-ntra-1/ or call toll-free (844) 367-9658. Lawyers at Kahn Swick & Foti, LLC are available to discuss your legal options.
About the Lawsuit
Natera and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On March 14, 2022, a jury found that the Company intentionally and willfully misled the public through its false advertisements to market Prospera, a screening test for kidney transplant failure, in violation of the federal Lanham Act, the Delaware Deceptive Trade Practices Act, and Delaware common law, including that the Company's marketing falsely claimed that Prospera was more accurate than the competing kidney transplant testing offered by CareDx, Inc. Ultimately, the jury awarded CareDx $44.9 million in monetary damages. On this news, shares of Natera fell $8.81, or 22.5% to close at $30.32 per share on March 15, 2022.
Then, on April 19, 2022, the United States Food and Drug Administration ("FDA") issued a safety communication "to educate patients and health care providers and to help reduce the inappropriate use of [NIPTs]," a non-invasive prenatal test like the Company's product, Panorama, and cautioned that statements about NIPTs' reliability and accuracy "may not be supported with sound scientific evidence." On this news, shares of Natera fell as much as $1.53 per share, or approximately 3.9%, to close at $38.10 per share on April 20, 2022.
The case is John Harvey Schneider v. Natera, Inc., et al., No. 1:22-cv-00398.
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