EXACT Sciences Corporation (NASDAQ:EXAS) Investor Investigation Concerning Potential Securities Laws Violations Announced

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Company Name(s): 
EXACT Sciences
Affected Securities: 

October 09, 2015 (Shareholders Foundation) - An investigation on behalf of investors of EXACT Sciences Corporation (NASDAQ:EXAS) shares over potential securities laws violations by EXACT Sciences and certain of its directors and officers in connection certain financial statements was announced.

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

Shares of EXACT Sciences Corporation (NASDAQ:EXAS) reached over $31 per share in July 2015.

The U.S. Preventive Services Task Force (“USPSTF”) issued a recommendation statements for colorectal cancer screening. The USPSTF included Cologuard in the draft guidelines as an alternative screening test, along with CT colonography. The draft guidelines recommend an “A” rating for colorectal cancer screening starting at age 50 and continuing until age 75.
Screening for individuals age 75 through 85 is graded a “C.” and The USPSTF recommended an “D” rating against screening for colorectal cancer in adults older than age 85 years.
On October 5, 2015, EXACT Sciences Corporation issued a statement following the U.S. USPSTF recommendation statement for colorectal cancer screening.

This approach represents a change from the 2008 recommendations, which assigned specific grades for different tests, including an “I” rating for stool-based DNA.

Shares of EXACT Sciences Corporation (NASDAQ:EXAS) declined to as low as $7.57 per share on October 8, 2015.