SAN FRANCISCO, March 29, 2022 (GLOBE NEWSWIRE) -- Hagens Berman urges Natera, Inc. ( NTRA) investors who suffered significant losses to submit your losses now. The firm is investigating possible violations of the securities laws.
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Natera, Inc. ( NTRA) Investigation:
The investigation concerns the propriety of Natera’s billing practices for its DNA screening tests.
On Mar. 9, 2022, questions about Natera’s billing practices came to light when analyst Hindenburg Research published a scathing report entitled “Natera: Pioneers In Deceptive Medical Billing.” Hindenburg alleges that Natera improperly charges both doctors and expectant mothers the full amount for a DNA test and hides their actions. Additionally, the report claims the company has frequently jacked up the price of a test to $8,000 by adding expensive screenings, such as one for “microdeletions,” and resolved patient complaints by discounting a patient’s insurance deductibles without notifying insurers.
Hindenburg alleges details how Natera carries out some these fraudulent business practices. In particular, Hindenburg contends that: (1) Natera’s former VP of commercial sales realized his sales operation was up against the wall because of Prior Authorization (PA) requirements so he supported the creation of a company called My Genome My Life (“MGML”) to obtain PAs “at no cost to the doctor, ” (2) MGML then “masks that it is a third party by submitting information to insurance companies under practitioners’ login credentials,” a practice in direct contravention of longstanding anti-kickback guidance calling for transparency by third party PA providers; and, (3) “[t]o facilitate this deception, Natera sales reps help doctors’ offices access insurance prior authorization portals, then share the passwords with MGML.”
This report sent the price of Natera shares sharply lower.
“We’re focused on investors’ losses and whether Natera illegally addressed the PA risk,” said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Natera and have significant losses, or have knowledge that may assist the firm’s investigation, click here to discuss your legal rights with Hagens Berman.
Whistleblowers: Persons with non-public information regarding Natera should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email [email protected].
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Contact:
Reed Kathrein, 844-916-0895
