CANCER GENETICS, INC. (NASDAQ:CGIX) Files An 8-K Other Events
Item 8.01. Other Events.
On February 25, 2020, the United States District Court for the District of New Jersey granted Cancer Genetics, Inc.’s (the “Company”) motion to dismiss with prejudice a purported class action complaint filed on April 5, 2018 against the Company and members of its management, captioned In re Cancer Genetics, Inc. Securities Litigation. As previously reported, the complaint alleged that the Company and members of its management violated federal securities laws by making allegedly false and misleading statements. The Court’s written order dismissed the case in its entirety with prejudice, resulting in a termination of all claims. The plaintiffs have not indicated whether they will appeal the dismissal.
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About CANCER GENETICS, INC. (NASDAQ:CGIX)
Cancer Genetics, Inc. is engaged in the field of personalized medicine, enabling precision medicine in the field of oncology through its diagnostic products and services, and molecular markers. The Company develops, commercializes and provides molecular- and biomarker-based tests and services that enable physicians to personalize the clinical management of each individual patient by providing genomic information to diagnose, monitor and inform cancer treatment, and enable biopharmaceutical companies engaged in oncology trials to select candidate populations and manage adverse drug reactions by providing information regarding genomic factors influencing subject responses to therapeutics. It has a range of disease-focused oncology testing portfolio. Its molecular- and biomarker-based diagnostic services are provided for three sectors: cancer centers and hospitals, biotechnology and biopharmaceutical companies, and the research community.