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

GeneDx Holdings (WGS) stock plummeted 49% on May 5, 2026, following disappointing Q1 2026 earnings that revealed a $31.2 million impairment charge (94% write-off) on its Fabric Genomics acquisition. The company also missed ARR targets, reduced revenue guidance by 12%, and lowered growth expectations from 33-35% to at least 20%, prompting a securities class action lawsuit alleging management misled investors about Fabric's value and product mix changes.