GeneDx Holdings (WGS): Investigation Into Medicare Fraud and Deceptive Billing Practices

Attorneys review the case details to decide whether to proceed with a class action.

GeneDx executives are under investigation for allegedly cheating Medicare and Medicaid by using illegal billing tactics, like stacking codes and using fake referral networks.
The company is also under scrutiny for inflating revenue, misleading investors about the functionality of its Centrellis platform, and senior leadership selling insider information.
Investors are currently investigating whether GeneDx executives committed fraud or breached fiduciary duties.
All affected $WGS investors can join now to stay updated on the case and potential recovery.
Case Details:

A February 2025 report and lawsuit claim that GeneDx leaders, including the CEO and CFO, told staff to use billing tricks, like charging for the same test multiple times, to boost revenue. Former employees confirmed that these schemes were operationally approved.

The company allegedly settled a $42 million claim with UnitedHealthcare over these practices, but this was not originally disclosed. 

At the same time, executives were aggressively selling stock, with the CEO and CFO cashing out most of their stock rewards that were fully earned and ready to sell.

Some of the proceeds were reportedly used for personal benefit, including high-level insider cashouts without corresponding open-market purchases.

Additionally, the company is under scrutiny for shuttering its highly promoted “Centrellis” AI data platform, which was used to boost valuation despite reportedly never working as intended.

With growing uncertainty about the company’s billing ethics, internal oversight, and leadership trust, investors are investigating whether GeneDx executives engaged in fraud or misled the public.

All affected investors can join now to stay updated on the case and potential recovery.

Case Status

Attorney Investigation

Alleged Offence

Misleading Statements,

Financial Misrepresentation,

Fraud,

Failure to Disclose,

Malpractice,

Omissions

Suspected Party

Directors,

Management,

Service Provider

Security Type

Stocks

Trade Direction

Short

Shock Event Date

02/05/2025

GeneDx Holdings Corp.

GeneDx Holdings Corp., a genomics company, provides genetic testing services. It primarily offers pediatric and rare disease diagnostics with a focus on whole exome and genome sequencing, as well a...

Ticker

WGS.US

ISIN

US81663L2007

CIK

0001818331

Sector

Healthcare

Industry

Diagnostics & Research

Country

USA

Address

North Tower, Stamford, CT, United States, 06902