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GeneDx Holdings (WGS) Faces Securities Class Action After 49% Drop, 94% Write-off Related to Fabric Genomics Acquisition – Hagens Berman

GlobeNewswire Inc.·
GeneDx Holdings (WGS) Faces Securities Class Action After 49% Drop, 94% Write-off Related to Fabric Genomics Acquisition – Hagens Berman

GeneDx Holdings (NASDAQ: WGS) faces a securities class action lawsuit after its stock plummeted 49% on May 5, 2026, following a disastrous Q1 2026 earnings report. The company recorded a $31.2 million impairment charge (94% write-off) on its Fabric Genomics acquisition and missed revenue growth targets, with guidance slashed by 12%. Investors allege the company misled them about Fabric's value, margin sustainability, and product mix changes.

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