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Myriad Genetics Ditches Medicare Overbilling Stock-Drop Suit

Law360 (March 25, 2019, 10:22 PM EDT) -- Myriad Genetics Inc. and its directors on Monday shook a proposed securities class action alleging a fraudulent billing of Medicare after a Utah federal judge ruled the suing investor failed to plead that the company's billing was illegal or even an outlier in the industry.

U.S. District Judge Dale A. Kimball said lead plaintiff Matthew Kessman's claims that the molecular diagnostics company misled investors about its compliance with federal law regarding billing for cancer screenings hinge, and now falter, on "one critical assumption — that Myriad's billing practices were illegal."

Given that the Center for Medicare and Medicaid Services' guidelines do not prohibit the...

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Utah

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April 20, 2018

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