Kuznicki Law PLLC notifies investors that a class action has commenced in the United States District Court for the District of Connecticut on behalf of shareholders of GeneDx Holdings Corp. who purchased shares between April 16, 2025 and May 4, 2026.
GeneDx and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On May 4, 2026, the Company reported its financial results for the first quarter of fiscal year 2026, disclosing a drop in adjusted gross margin from 74% to 69%, that it had missed its revenue estimates for both its exome and genome lines, and lowered its guidance for full year revenue to $475 – $490 million, down from $540 – $550 million. The Company also disclosed a $31.2 million impairment loss attributable to its prior acquisition of Fabric Genomics, an AI-driven genomic interpretation company, which the Company had touted as expected to expand its addressable market through multiple scalable revenue streams and transform static data into a recurring revenue-generating platform.
On this news, the price of GeneDx shares fell by $33.42 per share, or 49.2%.
If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court. The lead plaintiff will direct the litigation and participate in important decisions including whether to accept a settlement for the class in the action. The lead plaintiff will be selected from among applicants claiming the largest loss from investment in the respective securities during the class periods. Members of the class will be represented by the lead plaintiff and counsel chosen by the lead plaintiff. No class has yet been certified in the above action. Appointment as Lead Plaintiff is not required to partake in any recovery.
Shareholders have until August 3, 2026 to request that the court appoint them lead plaintiff.