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CareDx Investors: Class action lawsuit filed on behalf of investors; the Portnoy Law Firm

Investors can contact the law firm at no cost to learn more about recovering their losses

LOS ANGELES, May 23, 2022 (GLOBE NEWSWIRE) — The Portnoy Law Firm advises CareDx, Inc (“CareDx” or the “Company”) CDNA investors that a class action filed on behalf of investors that lost money on their CareDx stock. CareDx investors are encouraged to contact the firm to discuss their legal rights.

Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 844-767-8529 or email: lesley@portnoylaw.com, to discuss their legal rights, or click here to join the case via www.portnoylaw.com. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.

CareDx is a diagnostics company that offers diagnostic testing services, products, and digital healthcare software for organ transplant patients and care providers. Testing services for kidney and heart transplant recipients represented at least 85% of CareDx’s total revenues, and the Company’s AlloSure blood test for transplant recipients was the Company’s primary source of revenue. Additionally, the higher reimbursement payment rates for its Medicare-approved tests drove growth of the Company’s average sale price (“ASP”), an important metric for investors. Throughout the Class Period, CareDx reported growing revenue and strong demand in the Company’s testing services segment. Defendants also emphasized to investors the success of the Company’s RemoTraC service – a remote, home-based, blood-drawing service that the Company launched in response to the COVID-19 pandemic.

According to the Complaint, the Company made false and misleading statements to the market. CareDx engaged in improper schemes to inflate both testing service demand and revenue including the use of misleading marketing materials, improper kickbacks to physicians, and bundling testing as part of the RemoTraC service. The Company’s schemes left it at greater risk of regulatory scrutiny. Based on these facts, the Company’s public statements were false and materially misleading throughout the class period. When the market learned the truth about CareDx, investors suffered damages.

Please visit our website to review more information and submit your transaction information.

The Portnoy Law Firm represents investors in pursuing claims against caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.

Lesley F. Portnoy, Esq.
Admitted CA and NY Bar
lesley@portnoylaw.com
310-692-8883
www.portnoylaw.com

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