PHILADELPHIA, Dec. 27, 2022 (GLOBE NEWSWIRE) -- Barrack, Rodos & Bacine (BR&B) is investigating Fulgent Genetics Inc. based on issues arising from its recent acquisitions, including the acquisition of Fulgent Pharma LLC, a wholly owned subsidiary of Fulgent Pharma Holdings, which itself is wholly-owned by Ming Hsieh (Fulgent Genetic’s President and CEO) and a related Hsieh Trust that he controls.
The investigation primarily concerns whether CEO Hsieh and the other members of Fulgent Genetics’ Board of Directors breached their fiduciary duties to shareholders by entering into the acquisition of Fulgent Pharma LLC at the price that was paid and whether the Company has disclosed all material information to shareholders about the transaction. BR&B is also investigating the recent resignations of several members of Fulgent Genetics’ Board and certain stock transactions made by CEO Hsieh over the past few years.
If you are a Fulgent Genetics shareholder, you are encouraged to contact Mark Stein or Linda Border at Barrack, Rodos & Bacine, at the toll-free number 877-386-3304, or via email at mstein@barrack.com or lborder@barrack.com, to learn more about the firm’s investigation and your legal rights and options.
Philadelphia-based Barrack, Rodos & Bacine has more than four decades of experience prosecuting securities law class actions, including cases involving accounting fraud and insider trading, and has achieved some of the largest recoveries in the history of securities litigation in the U.S. The firm's largest recoveries on behalf of investors include $6.19 billion for WorldCom investors, $3.32 billion for Cendant investors, $1.05 billion for McKesson investors, and $970.5 million for AIG investors.
