Thieler Law Corp, member of the Investor Attorney Network, is investigating whether certain officers and directors of EXACT Sciences Corporation (NASDAQ: EXAS) violated securities laws in connection with certain financial statements.
The investigation seeks to discover if possible claims on behalf of purchasers of the securities of EXACT Sciences Corporation (NASDAQ: EXAS) concerning whether a series of statements by Exact Sciences Corporation regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
On May 15, 2017, Citron Research issued a report stating that "Exact Sciences pushes a cancer test (Cologuard) to the public, inferior by its own admission, and loses money doing it." Cologuard is a branded laboratory based scan for DNA traces in stool samples indicating colorectal cancer. Citron revealed a recent account from United Healthcare that disapproved of the use of fecal DNA testing for colorectal cancer screening and monitoring, and found it to be "unproven and not medically necessary."
Furthermore, the Citron article stated that "key metrics not disclosed by Exact Sciences are getting worse, while Medicare pricing inefficiencies end next January and investors will be left with a decaying asset with no terminal value." Citron goes on to say that "Poop in a box will probably be a medical dinosaur in 4 years and the value of Exact's only asset will be 0".
Based in Madison, Wisconsin, and founded in 1995 Exact Sciences Corporation focuses on developing products for the early detection and prevention of various cancers in the United States.
If you purchased shares of EXACT Sciences Corporation (NASDAQ: EXAS) on or before May 15, 2017, you should contact Thieler Law Corp at mail@thielerlaw.com or call +1 (619) 377 - 4324.
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