NEW YORK, NY / ACCESS Newswire / February 23, 2025 / Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of GeneDx Holdings Corp. ("GeneDx" or "the Company") (NASDAQ:WGS). Investors who purchased GeneDx securities are encouraged to obtain additional information and assist the investigation by visiting the firm’s site: bgandg.com/WGS.
Investigation Details
On February 5, 2025, Grizzly Research ("Grizzly") published a report entitled "Insiders Attest That GeneDx (Nasdaq: WGS) Is Actively Committing Widespread Fraud." The Grizzly report asserted, among other things, that GeneDx’s "growth is largely an illusion, driven by fraudulent schemes and illegal tactics deliberately aimed at exploiting Medicaid and Medicare systems to inflate revenue artificially"; that "[t]estimonies from former employees and ongoing litigation suggest that GeneDx has inflated its revenue through an illegal practice known as ‘code stacking,’" which "enables the company to bill insurance providers for services that do not meet the required criteria"; and that "CEO Katherine Stueland and CFO Kevin Feeley have consistently sold their shares immediately upon vesting, without ever engaging in open market purchases," a "pattern suggest[ing] that insiders may be aware of an imminent risk that will significantly impact the company." Following this news, GeneDx’s stock price fell $4.84 per share, or 6.72%, to close at $67.18 per share on February 5, 2025.
What’s Next?
If you are aware of any facts relating to this investigation or purchased GeneDx securities, you can assist this investigation by visiting the firm’s site: bgandg.com/WGS. You can also contact Peretz Bronstein or his client relations manager, Nathan Miller, of Bronstein, Gewirtz & Grossman, LLC: 332-239-2660
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Contact
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Nathan Miller
332-239-2660 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
View the original press release on ACCESS Newswire
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