An investigation on behalf of investors of Myriad Genetics, Inc. (NASDAQ: MYGN) shares over potential securities laws violations by Myriad Genetics, Inc. and certain of its directors and officers in connection with certain financial statements was announced.

The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Myriad Genetics, Inc. (NASDAQ: MYGN) concerning whether a series of statements by Myriad Genetics, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.

Salt Lake City, UT based Myriad Genetics, Inc., a molecular diagnostic company, focuses on developing and marketing novel predictive medicine, personalized medicine, and prognostic medicine tests worldwide. Myriad Genetics, Inc. reported that its Total Revenue rose from $753.8 million for the 12 months period that ended on June 30, 2016 to $771.4 million for the 12 months period that ended on June 30, 2017 and that its Net INcome declined over those respective time periods declined from $125.3 million to $21.8 million.

On March 12, 2018, Myriad Genetics, Inc. disclosed that it had received a subpoena from the Department of Health and Human Services, Office of Inspector General, in connection with an investigation into possible false or otherwise improper claims submitted for payment under Medicare and Medicaid. The subpoena requested that the Company produce documents relating primarily to the Company's billing to government-funded healthcare programs for the Company's hereditary cancer testing.

Shares of Myriad Genetics, Inc. (NASDAQ: MYGN) declined from $33.73 per share on March 12, 2018 to as low as $28.51 per share on March 13, 2018.