Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces the Filing of a Securities Class Action on Behalf of NeoGenomics, Inc. (NEO) Investors

Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, announces that a class action lawsuit has been filed on behalf of investors who purchased or otherwise acquired NeoGenomics, Inc. (“NeoGenomics” or the “Company”) (NASDAQ: NEO) securities between February 27, 2020 and April 26, 2022, inclusive (the “Class Period”). NeoGenomics investors have until February 6, 2023 to file a lead plaintiff motion.

If you suffered a loss on your NeoGenomics investments or would like to inquire about potentially pursuing claims to recover your loss under the federal securities laws, you can submit your contact information at www.glancylaw.com/cases/neogenomics-inc/. You can also contact Charles H. Linehan, of GPM at 310-201-9150, Toll-Free at 888-773-9224, or via email at [e-mail] to learn more about your rights.

On November 4, 2021, NeoGenomics disclosed that it was “conducting an internal investigation with the assistance of outside counsel that focuses on the compliance of certain consulting and service agreements with federal healthcare laws and regulations” and had recently “notified the Office of the Inspector General of the U.S. Department of Health and Human Services of our investigation.” The Company also revealed that it had “accrued a reserve of $10.5 million for potential damage and liabilities associated with the federal healthcare program revenue received spanning multiple years.”

On this news, NeoGenomic’s stock price fell $8.18, or 17.6%, to close at $38.35 per share on November 4, 2021, thereby injuring investors.

Then, on March 28, 2022, after the market closed, NeoGenomics announced that its Chief Executive Officer, Mark Mallon, had resigned, less than a year after accepting the position. The Company also stated that revenue for first quarter 2022 would be “below the low end of its prior guidance of $118 - $120 million” and withdrew its fiscal 2022 guidance.

On this news, NeoGenomics’ stock price fell $5.30, or 29.8%, to close at $12.49 per share on March 29, 2022, thereby injuring investors further.

Then, on April 27, 2022, NeoGenomics announced disappointing financial results for Q1 2022, including an EBITDA loss of $19 million, that consolidated gross profit had decreased by 8% compared to the previous year, and that operating expenses had increased by 59% compared to the previous year.