Zeldes Haeggquist & Eck, LLP Announces Investigation of Natera, Inc.
San Diego – (Businesswire): Zeldes Haeggquist & Eck, LLP, a shareholder and consumer rights litigation firm, has commenced an investigation into Natera, Inc. (“Natera”) (NASDAQ: NTRA) to determine whether Natera and its Officers and Directors have violated the federal securities laws under the Securities Exchange Act of 1934. Shareholders who have suffered losses on their investment in Natera shares are encouraged to contact Zeldes Haeggquist & Eck to discuss their legal rights.
Natera is a diagnostics company that provides preconception and prenatal genetic testing services. Natera’s primary product is Panorama, a non-invasive prenatal test that screens for chromosomal abnormalities of a fetus, typically with blood drawn from the mother.
On July 2, 2015, Natera offered 10 million shares of common stock at an offering price of $18/share in its Initial Public Offering (“IPO”), raising approximately $178.5 million in proceeds.
Zeldes Haeggquist & Eck, LLP is investigating whether Natera’s Registration Statement, filed in connection with Natera’s IPO, contained misleading information and/or material omissions. Specifically, Natera portrayed itself as a “rapidly growing diagnostics company” with huge year-over-year increases in revenues, and increases in accessioned tests (the number of tests Natera entered into its system).
In fact, according to a class action complaint filed in California Superior Court, San Mateo County, Natera had experienced a nearly $20 million net loss in the second quarter 2015 (“2Q15”), which had ended before the IPO and which exceeded any other quarterly loss Natera 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 the second quarter in a row of declining revenue.
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.
What You Can Do
If you wish to discuss this investigation, or have questions about this notice or your legal rights, please contact attorney Amber L. Eck at 619-342-8000, or by email at firstname.lastname@example.org.
About Zeldes Haeggquist & Eck, LLP
Zeldes Haeggquist & Eck, LLP is a full-service law firm which brings major class actions nationwide on behalf of defrauded investors and consumers and handles a variety of complex business litigation matters. Please visit www.zhlaw.com or our blog for more information.
Zeldes Haeggquist & Eck, LLP
Amber L. Eck