September 20, 2018 - The court granted the defendants' motion to dismiss.

February 20, 2018 - A motion to dismiss the amended complaint was filed.

December 22, 2017 - An amended complaint was filed.

July 28, 2017 - An investor in shares of Foundation Medicine Inc (NASDAQ: FMI) filed a lawsuit in the U.S. District Court for the District of Massachusetts over alleged violations of Federal Securities Laws by Foundation Medicine Inc in connection with certain allegedly false and misleading statements made between February 26, 2014 and November 3, 2015.

According to the complaint the plaintiff alleges on behalf of purchasers of Foundation Medicine Inc (NASDAQ: FMI) common shares between February 26, 2014 and November 3, 2015, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 26, 2014 and November 3, 2015, the defendants made false and/or misleading statements regarding the reimbursement process and likelihood of coverage for Foundation Medicine Inc’s tumor tests by Medicare and the Company’s financial guidance.

Cambridge, MA based Foundation Medicine Inc is a molecular information company that sells products that are enabled by its molecular information platform to physicians and biopharmaceutical companies.

On July 29, 2015, Foundation Medicine Inc disclosed that “clinical volume growth was affected by slower than anticipated progress towards obtaining a local coverage determination from our regional Medicare Administrative Contractor (MAC) and by some competitive noise in the market” and that, as such, Foundation Medicine Inc was “adjusting” its guidance for clinical volume and annual revenues.

Then, on November 3, 2015, the Company disclosed a further revision to the already reduced number of clinical tests it expected to report for 2015.

Shares of Foundation Medicine Inc (NASDAQ: FMI) declined from $49.57 per share in April 2015 to as low as $14.22 per share in early 2016.

On July 31, 2017, NASDAQ: FMI shares closed at $35.35 per share.