A securities fraud class action lawsuit has been filed against GeneDx Holdings Corp. on behalf of investors who purchased or acquired WGS common stock between April 16, 2025, and May 4, 2026. The lawsuit, filed in the United States District Court for the District of Connecticut, alleges that the company made materially false and misleading statements regarding the viability of its acquisition of Fabric Genomics. GeneDx had announced the acquisition on April 16, 2025, in a deal worth up to $51 million, touting Fabric's AI-driven genomic interpretation platform as a source of scalable recurring revenue. On May 4, 2026, the company disclosed a $31.3 million impairment loss directly attributable to Fabric, alongside a drop in adjusted gross margin and lowered earnings projections, causing its share price to fall more than 49%. Investors have until August 3, 2026, to seek lead plaintiff status through Kessler Topaz Meltzer & Check, LLP.
GeneDx Holdings Corp.Securities fraud lawsuit alleges false statements about Fabric Genomics acquisition, causing 49% stock drop
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