Laboratory Corporation of America Holdings Investigation
The law firm of Kirby McInerney LLP is investigating potential claims against Laboratory Corporation of America Holdings (“Labcorp” or the “Company”) (NYSE: LH). The investigation concerns whether Labcorp has violated the federal securities laws and/or engaged in other unlawful business practices.
Labcorp is a clinical laboratory company that offers clinical laboratory tests used by the medical profession in routine testing, patient diagnosis, and in the monitoring and treatment of disease.
On January 1, 2022, an article from the New York Times called into question the accuracy of certain prenatal tests, alleging that positive results on tests are incorrect about 85 percent of the time, and that patients who receive a positive result are supposed to pursue follow-up testing, which “can cost thousands of dollars, come with a small risk of miscarriage and can’t be performed until later in pregnancy.” On this news, Labcorp’s stock price declined by $16.03 per share, or approximately 5.1%, from $314.21 per share to close at $298.18 per share on January 3, 2022.