Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm is investigating potential claims against LifeStance Health Group, Inc. (NASDAQ: LFST), Lockheed Martin Corporation (NYSE: LMT), CareDx, Inc. (NASDAQ: CDNA), and Seer, Inc. (NASDAQ: SEER). Our investigation concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.
Bragar Eagel & Squire, P.C. Is Investigating LifeStance Health, Lockheed Martin, CareDx, and Seer and Encourages Investors to Contact the Firm
LifeStance Health Group, Inc. (NASDAQ: LFST)
On August 11, 2021, LifeStance announced financial results for the second quarter ended June 30, 2021. The company reported a $70 million net loss in the second quarter and issued third quarter guidance that missed estimates as healthcare companies struggle to retain physicians suffering burnout by the COVID-19 pandemic.
On this news, LifeStance’s stock price fell $10.16 per share, to close at $11.71 per share August 12, 2021.
Lockheed Martin Corporation (NYSE: LMT)
On October 26, 2021, Lockheed Martin announced its third quarter 2021 financial results. In its report, Lockheed Martin indicated that it would incur a $1.7 billion non-cash pension settlement charge, which would decrease the company’s net income by $4.72 per share.
Following this news, Lockheed Martin’s stock fell $44.42 per share (11.8%) and closed at $331.91 per share that same day.
CareDx, Inc. (NASDAQ: CDNA)
On January 25, 2021, the Company sold 1,923,077 shares of its common stock through an underwritten public offering at a public offering price of $91.00 per share.
On October 28, 2021, after the market closed, CareDx released Q3 2021 financial results in which the Company disclosed that the U.S. Department of Justice (“DOJ”) had recently served a civil investigatory demand requesting documents in connection with a False Claims Act investigation. The DOJ is investigating business practices related to CareDx’s kidney testing and phlebotomy services. The Company also disclosed that it received a subpoena from the U.S. Securities and Exchange Commission (“SEC”) for similar issues as well as certain accounting and public reporting practices, and the Company received an information request from an unnamed state agency.
On this news, the Company’s share price declined by $19.34 per share, or approximately 27.5%, from $70.34 per share to close at $51.00 per share on October 29, 2021.
Seer, Inc. (NASDAQ: SEER)
On November 4, 2021, The Bear Cave, a newsletter authored by Edwin Dorsey, issued a short report alleging that Seer appears to have misled investors about its recent Chinese distribution partnership, customer base, and management’s past track record.
On this news, shares of Seer stock fell 7% in intraday trading.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm
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