The GeneDx Holdings Corp. securities case is moving forward.
Basma v. GeneDx Holdings Corp., et al., No. 3:26-cv-00880 (D. Conn.)
A court-appointed lead plaintiff is now litigating on behalf of all class members. If you bought WGS during the class period, your potential claim is unaffected — you didn't need to do anything by the deadline. Register to follow the case and have your losses evaluated for free.
- No cost to participate
- No fee unless investors recover
- Talk to a real person, not a call center
- Lead plaintiff deadline
- Passed — August 3, 2026
- Class members' claims unaffected
- Class period
- Apr 16, 2025 – May 4, 2026
- Eligible purchases fall between these dates
What happened to WGS
About this case
The complaint alleges that GeneDx and its top executives misled investors about the benefits of the Company's April 2025 acquisition of Fabric Genomics, an AI-driven genomic interpretation firm. Throughout the class period, the Company repeatedly told investors that Fabric would expand GeneDx's addressable market, unlock recurring software-based revenue streams, reduce costs by combining Fabric's algorithms with GeneDx's core platform, and drive growth and unprecedented scale. According to the complaint, these statements were false or misleading because the executives knew or recklessly disregarded significant problems with Fabric's viability and its ability to contribute to the Company's business. The truth emerged after market close on May 4, 2026, when GeneDx reported disappointing first-quarter 2026 results, missed revenue estimates for its exome and genome lines, slashed full-year revenue guidance from $540–$555 million to $475–$490 million, and disclosed a $31.2 million impairment write-off tied directly to Fabric, causing the stock to fall approximately 49% the following day.
The allegations, in plain terms
- April 2025GeneDx acquires Fabric Genomics, an AI-driven genomic interpretation firm. Per the complaint, executives told investors the deal would expand GeneDx's addressable market, add recurring software revenue, cut costs, and drive growth.
- Class period (Apr 16, 2025 – May 4, 2026)The complaint alleges these upbeat statements were false or misleading because executives knew of, or recklessly disregarded, significant problems with Fabric's viability and its ability to contribute to GeneDx's business.
- May 4, 2026 (after market close)GeneDx reports disappointing Q1 2026 results, misses revenue estimates for its exome and genome lines, cuts full-year revenue guidance from $540–$555 million to $475–$490 million, and discloses a $31.2 million impairment write-off tied to Fabric, per the complaint.
- May 5, 2026GeneDx stock falls approximately 49% the day after the disclosures, allegedly harming investors who bought during the class period.
Summarizes allegations in the complaint — they are not findings of any court.
We screen hundreds of stock drops every year and file only a handful. If we're investigating this one, it's because we believe in it.
Block & Leviton is run by the partners whose names are on the door — and our clients deal with them directly, whatever the size of the loss. That's the point of staying small.
A dismissed case turned into a $150 million record.* A recovery from a company that went bankrupt. We build cases to go the distance — not to settle cheap.
* Subject to court approval. Prior results do not guarantee a similar outcome.
Who we are — and why we're involved
Block & Leviton represents investors. We never represent the companies we investigate. When a company's own disclosures reveal that shareholders were misled, we investigate and bring claims to recover those losses.
Our clients are people like you: individual investors, retirees, and pension funds harmed when the truth comes out and a stock falls. There is no cost to you to participate, and attorneys' fees are paid only out of a recovery approved by the court.
Who you'll be dealing with
Jake Walker
Represents investors in securities class actions nationwide.
Your first call will usually be with David White, our investor liaison — and our partners are directly involved in every case.
A record courts have trusted
NextEra Energy — $150 million
The district court dismissed the case. We appealed — and won a unanimous reversal in the Eleventh Circuit Court of Appeals. The result: a $150 million settlement — the largest securities class action settlement in the Southern District of Florida in more than 30 years.*
Dismissed — then revived when we persuaded the court to reconsider its own judgment. Settled in 2026.
Recovered for investors even after Tricida itself went bankrupt.
Federal courts have appointed Block & Leviton lead counsel in securities class actions on behalf of investors nationwide. Our attorneys have recovered billions of dollars for investors, retirees, and pension funds.
* Subject to court approval. Prior results do not guarantee a similar outcome. Attorney advertising.
Common questions
Will this cost me anything?
No. There is no cost to submit your information, no cost to participate, and no out-of-pocket cost ever. If there's a recovery, attorneys' fees are paid from it and must be approved by the court.
Do I have to go to court or sue anyone myself?
No. The case is brought on behalf of all affected investors as a group. Unless you choose to seek a larger role, participating requires essentially nothing from you.
I'm already part of the class automatically — so why submit my information?
It's true: if you bought WGS during the class period, you're a class member whether or not you contact anyone. Submitting your information lets us evaluate your specific losses, keep you informed as the case develops, and tell you whether you may benefit from a larger role in the case.
The lead plaintiff deadline passed — am I out of luck?
No. That deadline only governed who could seek appointment to lead the case. Your potential claim as a class member is unaffected — if the case succeeds, class members who file valid claims share in the recovery, and we'll keep you informed of every step if you register.
I sold my shares after the drop — am I still eligible?
Possibly, yes. What generally matters is that you purchased shares during the class period and were harmed by the decline. Whether you still hold shares today doesn't necessarily disqualify you — submit your details and we'll evaluate your situation.
Does submitting this form make you my lawyers?
No — and that's a protection for you. Submitting the form only lets us evaluate your potential claim, at no cost. If we determine we can help and you decide to move forward, we'll send you a written retainer agreement that spells out the relationship, the contingency fee, and your rights. You're never committed to anything until you've read and signed it.
What happens after I submit the form?
Our team reviews your submission — usually within one business day. David, our investor liaison, will reach out by phone or email, and our partners are directly involved in every case. You're never obligated to do anything.
Attorney advertising. Prior results do not guarantee a similar outcome. Block & Leviton LLP is responsible for the content of this page. Submitting information through this page does not create an attorney-client relationship.