Cancer Genetics, Inc. (CGIX) Accused of Issuing Misleading Statements Regarding Its Controls Over Financial Reporting

According to the complaint, beginning on March 23, 2017 and continuing through the class period, Cancer Genetics, Inc. (CGIX) reaffirmed in filings with the Securities and Exchange Commission that "our disclosure controls and procedures were effective."

On April 2, 2018, after the market closed, Cancer Genetics revealed that its "disclosure controls and procedures were not effective at December 31, 2017 as a result of the material weaknesses in internal controls… may not prevent or detect misstatements."

On this news, Cancer Genetic's shares fell $0.55, or over 33.3% per share on April 3, 2018, and have yet to recover.

Cancer Genetics Shareholders Have Legal Options

Concerned shareholders who would like more information about their rights and potential remedies can please send us a message via the Shareholder Information form below.