The litigation, Basma v. GeneDx Holdings Corp., follows a sharp decline in the company's valuation after it revealed disappointing financial results on May 4, 2026. GeneDx reported a drop in adjusted gross margins to 69% and missed revenue targets for its exome and genome product lines. The company subsequently slashed its full-year revenue guidance to a range of $475 million to $490 million, down from its previous forecast of up to $550 million.
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GeneDx Investors Face August 3 Deadline in Federal Securities Lawsuit
Investors who lost more than $100,000 in GeneDx Holdings Corp. stock between April 2025 and May 2026 have until August 3 to apply as lead plaintiffs in a pending class action lawsuit. The case, filed in the U.S. District Court for the District of Connecticut, centers on allegations of undisclosed material information.
Legal representatives from Kahn Swick & Foti, LLC allege that the company failed to communicate critical data during the class period. Investors were also blindsided by a $31.2 million impairment loss tied to the acquisition of Fabric Genomics, a firm GeneDx had previously marketed as a key driver for future recurring revenue. Following these disclosures, the company's share price plummeted by $33.42, representing a 49.2% loss in value. Affected shareholders seeking legal counsel or further information regarding the filing process are directed to the ClaimsFiler portal.
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