Sign In
Step 1
Unite with Fellow Investors
Step 2
Choose the Best Attorney
Step 3
Provide Documents
Step 4
Follow Case Progress
Step 5
Get Payout
DMTK.US
id: 848

DermTech (DMTK) DMT Pricing Case

The case has been dismissed, typically without any further action.
S.D. California
Court
3:23-cv-01885
Case number
05/03/2022
Class period Start
11/03/2022
Class period End
12/15/2023
Lead Plaintiff motion deadline
  • In August 2022, DermTech reported lower selling prices for their Melanoma Test in Q2 2022, which led to a 34% stock price drop.
  • Then, in November 2022, DermTech lowered revenue expectations, leading to a 44% $DMTK fall the next day.
On August 8, 2022, DermTech reported its Q2 2022 financial results and mentioned that the company expected a decrease in the average selling price for their Melanoma Test (DMT).

This news led to a 34% $DMTK drop on August 9, 2022.

Later, on November 3, 2022, DermTech shared their Q3 2022 financial results, stating that they faced challenges with slow growth due to limited commercial payer coverage and issues in collecting payments.

This also caused $DMTK fall by 44.7% and $45M loss of market capitalization, damaging shareholders.

Given all the information, investors have reasons to suspect that DermTech didn't disclose issues with Melanoma Test sales and the company's financial condition.
Case Status
Dismissed
Alleged Offence
Misleading Statements
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Security Type
Stocks
Trade Direction
Long
Shock Event Date
11/04/2022
Filing date
10/16/2023
Lead Plaintiff Deadline
12/15/2023
Judge
Dana M Sabraw

DermTech Inc

DermTech, Inc., a molecular diagnostic company, engages in the development and marketing of novel non-invasive genomics tests to aid in the diagnosis and management of melanoma in the United States...

    Ticker
    DMTK.US
    ISIN
    US24984K1051
    CIK
    0001651944
    Sector
    Healthcare
    Industry
    Diagnostics & Research
    Country
    USA
    Address
    12340 El Camino Real, San Diego, CA, United States, 92130