SHAREHOLDER ALERT FILING DEADLINE TODAY: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Natera, Inc. - NTRA

NEW YORK, June 27, 2022 /PRNewswire/ -- Pomerantz LLP is investigating claims on behalf of investors of Natera, Inc. ("Natera" or the "Company") (NASDAQ: NTRA).   Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 7980.

The investigation concerns whether Natera and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices. 

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On January 1, 2022, The New York Times published a detailed report calling into question the accuracy of certain prenatal tests manufactured by Natera and other diagnostic testing companies.  Among other things, The New York Times reported that Natera's positive results for several genetic disorders were incorrect more than 80 percent of the time. 

On this news, the price of Natera common stock fell $5.35 per share, or approximately 6% over two trading days, from a close of $93.39 per share on December 31, 2021, to close at $88.04 per share on January 4, 2022. 

Less than two weeks later, on January 14, 2022, the Campaign for Accountability— a nonprofit watchdog group—filed a complaint with the U.S. Securities and Exchange Commission requesting an investigation as to whether "Natera repeatedly claimed – in marketing materials and earnings calls – that [its] tests are much more reliable than it appears they really are." 

On this news, the price of Natera common stock fell $6.29 per share, or more than 9%, from a close of $67.37 per share on January 14, 2022, to close at $61.08 per share on January 18, 2022. 

Then, on March 9, 2022, Hindenburg Research ("Hindenburg") issued an investigative report (the "Hindenburg Report") alleging, among other things, that "Natera's revenue growth has been fueled by deceptive sales and billing practices aimed at doctors, insurance companies and expectant mothers." 

On this news, the price of Natera common stock fell as much as $28.65 per share, or more than 52%, from a close of $54.75 per share on March 8, 2022, to an intra-day low of $26.10 per share on March 9, 2022. 

On March 14, 2022, a jury found that Natera had intentionally and willfully misled the public by utilizing false advertisements to market Prospera in violation of the federal Lanham Act, the Delaware Deceptive Trade Practices Act, and Delaware common law.  Among other things, the jury found that Natera's marketing falsely claimed that Prospera was more accurate than the competing kidney transplant testing offered by CareDx, Inc. ("CareDx").  Ultimately, the jury awarded CareDx $44.9 million in monetary damages. 

On this news, Natera common stock fell as much as $8.81 per share, or approximately 22.5%, from an intra-day high of $39.13 per share on March 14, 2022, to close at $30.32 per share on March 15, 2022. 

On April 19, 2022, the U.S. Food and Drug Administration ("FDA") issued a safety communication "to educate patients and health care providers and to help reduce the inappropriate use of" non-invasive prenatal tests ("NIPTs").  The FDA cautioned that statements about NIPTs' reliability and accuracy "may not be supported with sound scientific evidence" and revealed the existence of "cases where a screening test reported a genetic abnormality and a confirmatory diagnostic test later found that the fetus was healthy."  The FDA suggested that patients discuss benefits and risks with a healthcare provider before deciding to undergo NIPT or making any pregnancy-related decisions on the basis of NIPT results.  In addition, the FDA advised health care providers that they should not rely on NIPT results alone to diagnose chromosomal abnormalities or disorders. 

On this news, the price of Natera common stock fell as much as $1.53 per share, or approximately 3.9%, from an intra-day high of $39.63 per share on April 19, 2022, to close at $38.10 per share on April 20, 2022.

Pomerantz LLP, with offices in New York, Chicago, Los Angeles, Paris, and Tel Aviv, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, Pomerantz pioneered the field of securities class actions. Today, more than 85 years later, Pomerantz continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of class members. See www.pomlaw.com

CONTACT:
Robert S. Willoughby
Pomerantz LLP
[email protected]
888-476-6529 ext. 7980

SOURCE Pomerantz LLP