NEW ORLEANS, Nov. 01, 2022 (GLOBE NEWSWIRE) — Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Louisiana Attorney General Charles C. Foti, Jr., remind investors that they to have November 7, 2022 Lead Plaintiff’s Motions in a Securities Class Action Against Sema4 Holdings Corp. (NasdaqGS: SMFR, SMFRW) if they purchased the Company’s securities between March 14, 2022 and August 15, 2022 inclusive (the “Collection Period”). This lawsuit is pending in the United States District Court for the District of Connecticut.

What you can do

If you have purchased Sema4 securities and would like to discuss your legal rights and how this case may affect you and your right to compensation for your economic loss, you can contact KSF Managing Partner Lewis Kahn toll-free at no obligation or cost to you at 1-877-515-1850 or email ([email protected]) or visit us https://www.ksfcounsel.com/cases/nasdaqgs-smfr/ to learn more. If you wish to be a lead plaintiff in this class action lawsuit, you must petition the court November 7, 2022.

About the lawsuit

Sema4 and certain of its officers are accused of failing to disclose material information during the Class Period in violation of federal securities laws.

On August 15, 2022, following the IPO, the company announced that its president and chief R&D officer would be stepping down from those roles, that it would be cutting about 13% of its workforce as part of a series of restructuring and corporate realignments, and so on “$30.1 million of revenue reversed in the quarter related to prior periods,” related to negotiations with “one of the [Sema4’s] major commercial payers regarding the potential reimbursement of payments for Sema4 carrier screening services provided from 2018 through early 2022.”

As a result of this news, Sema4 shares fell $0.80, or 33.3%, on unusually high trading volume to close at $1.60 per share on August 16, 2022.

The case is Helo vs. Sema4 Holdings Corp., et…