NEW YORK--(BUSINESS WIRE)--The law firm of Kirby McInerney LLP is investigating potential claims against CareDx, Inc. (“CareDx” or the “Company”) (NASDAQ: CDNA). This investigation concerns whether Motorcar Parts has violated federal securities laws and/or engaged in other unlawful business practices.
On July 16, 2019, Kerrisdale Capital published a report questioning the efficacy and safety of CareDx’s AlloSure diagnostic test. More specifically, the report accuses AlloSure of being ineffective in diagnosing kidney rejection and dangerous if used as directed by the Company. According to the report “[e]very single clinical paper and study of AlloSure leads, in our view, to one inescapable conclusion: AlloSure is an utter failure as a comprehensive biomarker of rejection.” On this news, CareDx’s share price fell $4.83, or 12.9%, to close at $32.57 on July 16, 2019.
If you acquired CareDx securities, have information, or would like to learn more about these claims, please contact Thomas W. Elrod of Kirby McInerney LLP at 212-371-6600, by email at investigations@kmllp.com, or by filling out this contact form, to discuss your rights or interests with respect to these matters without any cost to you.
Kirby McInerney LLP is a New York-based plaintiffs’ law firm concentrating in securities, antitrust, and whistleblower litigation. The firm’s efforts on behalf of shareholders in securities litigation have resulted in recoveries totaling billions of dollars. Additional information about the firm can be found at Kirby McInerney LLP’s website: www.kmllp.com.
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