DMTK Shareholder Update: Johnson Fistel Encourages Dermtech Investors to Seek Counsel Before Lead Plaintiff Class Action Deadline
Johnson Fistel, LLP notifies investors of DermTech, Inc. (NASDAQ: DMTK) a securities class action lawsuit has been filed. The lawsuit seeks to recover losses on behalf of investors who acquired securities between May 3, 2022 and November 3, 2022, both dates inclusive (the “Class Period”). Investors have until December 15, 2023, to apply to the Court to be appointed as lead plaintiff in the lawsuit.
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Complaint Allegations: According to the lawsuit, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company experienced challenges with collections from commercial payors; (2) that, as a result, there was a lower average selling price for DermTech’s DMT; (3) that, as a result of the foregoing, the Company’s revenue growth would be adversely impacted; and (4) that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis. When the true details entered the market, the lawsuit claims that investors suffered damages.
What can Investors Do: Shareholders who incurred losses during the class period, have until December 15, 2023, to move the court to become a lead plaintiff in this action.A lead plaintiff will act on behalf of all other class members in directing the class-action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the class-action lawsuit. An investor’s ability to share any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff.
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Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, Georgia, and Colorado. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonfistel.com.
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