Myriad Board Under Fire For Allegedly Overselling Gene Test

By Matthew Santoni (September 17, 2021, 7:57 PM EDT) -- A shareholder in Myriad Genetics Inc. told a Delaware federal court that company executives and directors lied to investors for years about a study of one of its flagship products, a genetic test intended to predict a patient's response to drugs for pain relief, ADHD and depression, according to the derivative suit filed Friday.

Karen Marcey said executives, including former CEO Mark Capone and Chief Financial Officer R. Bryan Riggsbee, had falsely claimed that a clinical trial supported using the GeneSight test to predict efficacy for all three categories of drugs, even after the U.S. Food and Drug Administration later explicitly...

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