Governance & Derivative

CareDx, Inc. (NasdaqGM: CDNA)

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 has commenced an investigation into CareDx, Inc. (NasdaqGM: CDNA).  

On October 28, 2021, the Company disclosed that it was the subject of at least three government investigations related to its “accounting and public reporting practices,” including the recent receipt of a civil investigative demand (“CID”) from the U.S. Department of Justice (“DOJ”) requesting the Company produce documents in connection with the DOJ’s False Claims Act investigation. Then, on May 5, 2022, the Company announced its 1Q2022 results, disclosing testing service revenue that fell well short of analysts’ expectations and another decline in average sales price for testing in which the Company’s average price declined by approximately 4.9% versus the last quarter of 2021. 

Thereafter, the Company and certain of its executives were sued in a securities class action lawsuit, charging them with failing to disclose material information during the Class Period, violating federal securities laws, which remains ongoing.

KSF’s investigation is focusing on whether CareDx’s officers and/or directors breached their fiduciary duties to its 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 CareDx 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 (lewis.kahn@ksfcounsel.com), or fill out the form on this page.