A federal court dismissed a shareholder lawsuit alleging health company Sema4, now known as GeneDx, touted a data platform that didn’t exist and made false statements about its financial reporting.
Investors failed to show Sema4 executives’ statements about the allegedly nonexistent platform, Centrellis, were made intending to defraud shareholders, Judge Vernon Oliver in the US District Court for the District of Connecticut said in a Wednesday order.
Reasonable investors also wouldn’t have been misled by the company’s statements about its revenue and reimbursements from third parties, among other things, according to the order.
“Contrary to Plaintiff’s characterizations of Defendants’ public ...
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