An investor in NASDAQ:NTRA shares filed a lawsuit over alleged violations of the Securities Exchange Act of 1933 against Natera Inc, the sponsors of the initial public offering, and certain of the Company’s officers.
Investors who purchased shares of Natera Inc (NASDAQ:NTRA) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
Natera Inc’ s primary product is Panorama, a non-invasive prenatal test (” NIPT”), launched in March 2013, which the Company claims is the ” most accurate NIPT commercially available, in the United States.”
The plaintiff alleges that Natera’s Registration Statement, filed in connection with the July 2, 2015 initial public offering (“IPO”), contained allegedly misleading information and/or allegedly omitted material information that presented a positive outlook for Natera’s business, performance, prospects and products, while omitting significant facts and known trends that had already unfavorably impacted Natera’s revenues and net losses at the time of the IPO. More specifically, the plaintiff claims that the offering for the IPO allegedly materially falsely and misleadingly represented the state of Natera’s business, including that Natera had experienced a nearly 20 million net loss in the Company’s second quarter 2015 which had ended before the IPO and which loss exceed any other quarterly loss the Company had suffered by as much as 3700% since at least second quarter 2013 when Panorama was released.
The plaintiff alleges that Panorama tests accessioned in which revenue was recognized had already flat-lined at 28,000+ tests, and that the percent of Panorama tests accessioned in which revenue was recognized in the same quarter had dramatically declined to a mere 47%, far below the percentage in prior quarters, indicating bleak prospects for the Company’s principal product — far from what was portrayed in the Registration Statement and roadshow for the offering.
On March 8, 2016, NASDAQ:NTRA shares closed at $9.50 per share.
Investors who purchased NASDAQ:NTRA shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com