NEW ORLEANS, June 25, 2021 /PRNewswire/ -- Former Attorney General of Louisiana, Charles C. Foti, Jr., Esq., a partner at the law firm of Kahn Swick & Foti, LLC ("KSF"), announces that KSF continues its investigation into Progenity, Inc. (NasdaqGM: PROG).
In August 2020, the Company disclosed that an audit uncovered it had overbilled the U.S. government by $10.3 million more than previously disclosed due to the incorrect use of a billing code, the same "discontinued legacy billing practices" that the Company had previously represented had been "remediated."
The Company and certain of its executives have been sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws, which is ongoing.
KSF's investigation is focusing on whether Progenity's officers and/or directors breached their fiduciary duties to Progenity's shareholders or otherwise violated state or federal laws.
If you have information that would assist KSF in its investigation, or have been a long-term holder of Progenity shares and would like to discuss your legal rights, you may, without obligation or cost to you, call toll-free at 1-877-515-1850 or email KSF Managing Partner Lewis Kahn ([email protected]), or visit https://www.ksfcounsel.com/cases/nasdaqgm-prog/ to learn more.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation's premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.