Archived Investigations

GeneDx Holdings Corp. (NasdaqGS: WGS)

Company Name:GeneDx Holdings Corp.
Stock Symbol:NasdaqGS: WGS
Court:District of Connecticut
Class Period Start:04/16/2025
Class Period End (inclusive):05/04/2026
Filing Deadline:The deadline has passed.
June 8, 2026

GeneDx and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws. 

On May 4, 2026, the Company reported its financial results for the first quarter of fiscal year 2026, disclosing a drop in adjusted gross margin from 74% to 69%, that it had missed its revenue estimates for both its exome and genome lines, and lowered its guidance for full year revenue to $475 – $490 million, down from $540 – $550 million. The Company also disclosed a $31.2 million impairment loss attributable to its prior acquisition of Fabric Genomics, an AI-driven genomic interpretation company, which the Company had touted as expected to expand its addressable market through multiple scalable revenue streams and transform static data into a recurring revenue-generating platform.

On this news, the price of GeneDx shares fell by $33.42 per share, or 49.2%.

The case is Basma v. GeneDx Holdings Corp., No. 26-cv-00880.

Click here to read the first filed complaint.