Ticker: NTRA

Class Period Start: 02/26/2020

Class Period End: 04/19/2022

Registration Deadline: 06/27/2022

A securities class action has been filed in the USDC – W.D.TX. against Natera, Inc. (NNOX) on behalf of all persons and entities who purchased or otherwise acquired Natera between February 26, 2020 through April 19, 2022.

According to the Complaint, Natera, Inc. offers genetic testing in the areas of women’s health, oncology, and organ health. Among other things, the Company produces and markets Panorama (a NIPT) and Prospera (which screens for kidney transplant failure). The Company’s technology evaluates single nucleotide polymorphisms (“SNPs”), the most common type of genetic variation among people.  Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Natera, Inc. (NASDAQ: NTRA) resulting from allegations that Natera may have issued materially misleading business information to the investing public.

The Complaint alleges that, throughout the Class Period, the Defendants misrepresented and/or failed to disclose that:

  • Panorama was not reliable and resulted in high rates of false positives;
  • Prospera did not have superior precision compared to competing tests;
  • as a result of Defendants’ false and misleading claims about Natera’s technology, the company was exposed to substantial legal and regulatory risks;
  • Natera relied upon deceptive sales and billing practices to drive its revenue growth; and
  • as a result of the foregoing, Defendants’ statements about the company’s business, operations, and prospects lacked a reasonable basis.

On January 1, 2022, the New York Times published an article calling into question the accuracy of certain non-invasive prenatal tests (“NIPT”), including Natera’s NIPT, Panorama. The New York Times analyzed data and spoke to researchers to conclude that positive results from tests screening for certain rare chromosomal microdeletion disorders are incorrect approximately 85% of the time. Patients who receive a positive result are supposed to pursue follow-up testing, which “can cost thousands of dollars, come with a small risk of miscarriage and can’t be performed until later in pregnancy.” On this news, Natera’s stock price fell sharply, thereby damaging investors.

Then, on January 14, 2022, the Campaign for Accountability filed a complaint letter with the Securities and Exchange Commission (“SEC”), alleging that Natera misled investors by, among other things, failing to disclose the prevalence of false positives from four of the five disorders screened by Panorama. The Campaign for Accountability complaint letter also alleged that the Company issued false and misleading statements about the accuracy of Panorama. On this news, Natera’s stock price declined again, thereby damaging investors.

On March 9, 2022, market analyst Hindenburg Research published a report titled, “Natera: Pioneers In Deceptive Medical Billing”. The report alleged that Natera boosted its bills through “opaque and deceptive billing practices”. The report further alleged Natera “employed a dizzying array of billing deceptions to fuel sales growth.”

On this news, Natera share prices plummeted $17.95, or 32%, to close at $36.80 on March 9, 2022.

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