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LOS ANGELES, April 06, 2026 (GLOBE NEWSWIRE) -- The Portnoy Law Firm advises Myriad Genetics, Inc., (“Myriad" or the "Company") (NASDAQ:MYGN) investors that the firm has initiated an investigation into possible securities fraud, and may file a class action on behalf of investors.
Investors are encouraged to contact attorney Lesley F. Portnoy, by phone 310-692-8883 or email: lesley@portnoylaw.com, to discuss their legal rights, or join the case via https://portnoylaw.com/myriad-genetics-inc. The Portnoy Law Firm can provide a complimentary case evaluation and discuss investors’ options for pursuing claims to recover their losses.
Myriad’s stock price plummeted $3.00, or 41.3%, to close at $4.27 per share on May 7, 2025, thereby injuring investors. This massive valuation collapse followed the May 6, 2025, release of first quarter financial results, which revealed that total revenue of $196 million had declined by 3% year-over-year. Management specifically highlighted a 20% year-over-year drop in pharmacogenomics revenue, attributing the decline to UnitedHealthcare (UNH) “reducing coverage of GeneSight®.” Consequently, the Company lowered its financial guidance for the remainder of 2025 to reflect these disappointing quarterly results and a weakened “business outlook.” The market responded with extreme volatility to the combination of lost insurance coverage for a key product and the downward revision of future earnings expectations.
The Portnoy Law Firm represents investors in pursuing claims caused by corporate wrongdoing. The Firm’s founding partner has recovered over $5.5 billion for aggrieved investors. Attorney advertising. Prior results do not guarantee similar outcomes.
Lesley F. Portnoy, Esq.
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