Lawsuit for Investors in Cancer Genetics, Inc. (NASDAQ: CGIX) with Substantial Financial Losses Announced by Shareholders Foundation
SAN DIEGO, CA, May 8, 2018 (Newswire.com) - The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in shares of Cancer Genetics, Inc. (NASDAQ: CGIX).
Investors, who have losses in excess of $50,000 from their investment in shares of shares of Cancer Genetics, Inc. (NASDAQ: CGIX) between March 23, 2017 and April 2, 2018, have certain options and for certain investors are short and strict deadlines running. NASDAQ: CGIX investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On April 2, 2018, Cancer Genetics, Inc reported that, following its CEO's departure, it conducted a comprehensive review of its strategy and organization. This led Cancer Genetics, Inc to record a bad debt expense of $4.4 million and write off $1.8 million of its accounts receivable in the fourth quarter, with a significant portion related to collection issues with accounts receivables recorded after 2015. Cancer Genetics, Inc also reported that, on December 31, 2017, its "cash position and history of losses required management to assess [its] ability to continue operating as a going concern[.]"
On April 05, 2018, a lawsuit was filed against Cancer Genetics, Inc. over alleged securities laws violations. The plaintiff claims that Cancer Genetics had ineffective disclosure controls and internal controls over financial reporting, and that as a result, Defendants' statements about the Company's business, operations and prospects were materially false and misleading and/or lacked a reasonable bases at all relevant times.
Those who purchased Cancer Genetics, Inc. (NASDAQ: CGIX) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
SOURCE: Shareholders Foundation, Inc.
Source: Shareholders Foundation, Inc.
