INVESTOR NOTICE: The Schall Law Firm Announces the Filing of a Class Action Lawsuit Against Cancer Genetics, Inc. and Encourages Investors with Losses in Excess of $100,000 to Contact the Firm

LOS ANGELES, CA / ACCESSWIRE / May 10, 2018 / The Schall Law Firm, a national shareholder rights litigation firm, announces that it is investigating claims on behalf of investors of Cancer Genetics, Inc. (“the Company”) (NASDAQ: CGIX) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission.

Investors who purchased the Company’s shares are encouraged to contact the firm.

If you are a shareholder who suffered a loss, click here to participate.

We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at 424-303-1964, to discuss your rights free of charge. You can also reach us through the firm’s website at www.schallfirm.com, or by email at brian@schallfirm.com.

The class, in this case, has not yet been certified, and until certification occurs, you are not represented by an attorney. If you choose to take no action, you can remain an absent class member.

The investigation focuses on whether the Company issued false and/or misleading statements and/or failed to disclose information pertinent to investors. On April 2, 2018, Cancer Genetics reported that, following its CEO’s departure, it conducted a comprehensive review of its strategy and organization. This led Cancer Genetics to record a bad debt expense of $4.4 million and write off $1.8 million of its accounts receivable in the fourth quarter, with a significant portion related to collection issues with accounts receivables recorded after 2015. Cancer Genetics also reported that, on December 31, 2017, its “cash position and history of losses required management to assess [its] ability to continue operating as a going concern[.]” On this news. When the truth was revealed to the investing public, shares of Cancer Genetics fell $0.55 per share or over 33% to close at $1.10 per share on April 3, 2018, causing shareholders harm.

The Schall Law Firm represents investors around the world and specializes in securities class action lawsuits and shareholder rights litigation.

This press release may be considered Attorney Advertising in some jurisdictions under the applicable law and rules of ethics.

CONTACT:

The Schall Law Firm
Brian Schall, Esq.
Sherin Mahdavian, Esq.
Schallfirm.com

SOURCE: The Schall Law Firm

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