WAYNE, Pa., Feb. 26, 2016 /PRNewswire/ -- Ryan & Maniskas, LLP announces that a class action lawsuit has been filed in Superior Court of the State of California, County of San Mateo on behalf of all persons or entities that purchased Natera, Inc. (NASDAQ: NTRA) ("Natera" or the "Company") since the Company's July 2, 2015 initial public offering ("IPO").
CSI shareholders may move the Court for appointment as a lead plaintiff of the Class. If you purchased shares of Natera and would like to learn more about these claims or if you wish to discuss these matters and have any questions concerning this announcement or your rights, contact Richard A. Maniskas, Esquire toll-free at (877) 316-3218 or to sign up online, visit: www.rmclasslaw.com/cases/ntra.
The Complaint alleges that throughout the Class Period, defendants made materially false and misleading statements, and omitted materially adverse facts, about the Company's business, operations and prospects. As a result of defendants' alleged false and misleading statements, the Company's stock traded at artificially inflated prices during the Class Period.
According to the Complaint, the offering materials falsely and misleadingly represented the state of Natera's business, including that Natera had experienced a nearly $20 million net loss in the Company's second quarter 2015 ("2Q15") — which had ended before the IPO and which loss exceeded any other quarterly loss the Company had suffered by as much as 3700% since at least 2Q13 when Panorama was released. In addition, Natera had experienced a 2Q15 revenue decline, which was also the second quarter in a row of declining revenue — contrary to the state of Natera's business depicted in the Registration Statement. Further, tests accessioned of Panorama, the Company's primary product, in which revenue was recognized had already flat-lined at 28,000+ tests, and the percent of Panorama tests accessioned in which revenue was recognized in the same quarter had dramatically declined to a mere 47%, far below the percentage in prior quarters, indicating bleak prospects for the Company's principal product — far from what was portrayed in the Registration Statement and roadshow for the Offering.
Since the IPO, the price of Natera's stock has dropped more than 50%, closing as low as $6.61 per share on February 8, 2016.
If you are a member of the class, you may request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as "lead plaintiff." Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Ryan & Maniskas, LLP or other counsel of your choice, to serve as your counsel in this action.
For more information regarding this, please contact Ryan & Maniskas, LLP (Richard A. Maniskas, Esquire) toll-free at (877) 316-3218 or by email at firstname.lastname@example.org or visit: www.rmclasslaw.com/cases/ntra. For more information about class action cases in general or to learn more about Ryan & Maniskas, LLP, please visit our website: www.rmclasslaw.com.
Ryan & Maniskas, LLP is a national shareholder litigation firm. Ryan & Maniskas, LLP is devoted to protecting the interests of individual and institutional investors in shareholder actions in state and federal courts nationwide.
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