the DermTech Class Action Lawsuit: Everything You Need to Know

If you suffered losses in DermTech stock, contact DermTech stock loss lawyer Timothy L. Miles about a DermTech class action lawsuit

INTRODUCTION TO THE DermTech Class Action Lawsuit

​The DermTech class action lawsuit has garnered significant attention in recent weeks. This legal action seeks to represent purchasers or acquirers of DermTech, Inc. (NASDAQ: DMTK) securities between May 3, 2022, and November 3, 2022, inclusive. The DermTech class action lawsuit alleges violations of the Securities Exchange Act of 1934 by DermTech and certain of its top current and former executive officers.

Background of the DermTech Class Action Lawsuit

DermTech is a molecular diagnostic company that develops and markets non-invasive genomics test to aid the diagnosis and management of skin cancer, inflammatory skin diseases, and aging-related skin conditions.  The DermTech Melanoma Test (“DMT”) is a commercial test offered to assess pigmented skin lesions for melanoma.

The DermTech class action lawsuit alleges that defendants throughout the Class Period failed to disclose that: (i) DermTech experienced challenges with collections from commercial payors; (ii) as a result, there was a lower average selling price for DermTech’s DMT; and (iii) consequently, DermTech’s revenue growth would be adversely impacted.

The DermTech class action lawsuit further alleges that on August 8, 2022, DermTech announced its second quarter 2022 financial results and revealed that DermTech expected “a lower average selling price (ASP) for [its] DMT,” due to “Medicare billing code edits . . . as well as less favorable collection patterns from commercial payors.”  The complaint alleges that on this news DermTech’s stock price fell approximately 34%.

The DermTech class action lawsuit also alleges that on November 3, 2022, DermTech announced its third quarter 2022 financial results, reporting that billable sample volume “sequential growth was flat due to headwinds caused by limited commercial payer coverage.” The DermTech class action lawsuit alleges that DermTech attributed the disappointing growth to “commercial payer collection challenges [have] affect[ed] estimating ASP [average selling price]” and that, as a result, DermTech expected “at least $13 million in assay revenue for the full-year 2022,” which is “below [its] previous guidance range.”  The DermTech class action lawsuit alleges that on this news DermTech’s stock price fell by nearly 45%.

The Lead Plaintiff Process in the DermTech Class Action Lawsuit

The Private Securities Litigation Reform Act of 1995 permits any investor who purchased and suffered losses in DermTech stock to seek appointment as lead plaintiff in the DermTech class action lawsuit. A lead plaintiff is generally the movant with the greatest financial interest in the relief sought by the putative class who is also typical and adequate of the putative class. 
​
​A lead plaintiff acts on behalf of all other class members in directing the class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the securities class action lawsuit.  An investor’s ability to share in any potential future recovery of the class action lawsuit is not dependent upon serving as lead plaintiff. If you suffered losses in DermTech stock and have further questions, contact DermTech stock loss Lawyer​ Timothy L. Miles today who will fight to recover your damages in a DermTech class action lawsuit if you suffered losses in DermTech​ stock.

Can a Non-U.S. Investor Serve as Lead Plaintiff in the DermTech Class Action Lawsuit?

​The DermTech class action lawsuit is open to all investors who suffered losses in DermTech stock during the Class Period. This includes both U.S. and non-U.S. investors. If you are a non-U.S. investor and suffered losses in DermTech stock, you can still serve as the lead plaintiff in the DermTech class action lawsuit.

Can I Be Appointed Lead Plaintiff in the DermTech Class Action Lawsuit if I Purchased Shares Outside of the Class Period?

No.  Even if you suffered losses in DermTech stock, if you purchased securities outside of the Class period, you will not be able to participate in the DermTech​ class action lawsuit.

Will the Lead Plaintiffs Get More Money than Class Members in the DermTech Class Action Lawsuit?

No, but they may be entitled to recover their reasonable expenses incurred with are directly related to representing the class in the DermTech class action lawsuit. Under the Private Securities Litigation Reform Act of 1995, a Lead Plaintiff is only entitled to his or her pro rata share of any recovery and does not receive any additional money for serving as a representative party on behalf of the class.  However, a court, in its discretion, may approve an award of “reasonable costs and expenses (including lost wages)” to a Lead Plaintiff that directly relates to the representation of the class in the DermTech class action lawsuit on behalf of investors who suffered losses in DermTech​ stock​. ​

Can I Be Lead Plaintiff in the DermTech Class Action Lawsuit if I am Lead Plaintiff in Another Case?

Unless you have been a lead plaintiff in more than five securities class actions during any three-year period, you can still be appointed as the lead plaintiff in the DermTech class action lawsuit. The securities laws expressly prohibit individuals who have exceeded this limit from serving as lead plaintiffs. If you suffered losses in DermTech stock and meet the eligibility requirements, you can move to be appointed as the lead plaintiff in the DermTech class action lawsuit.

Can the Court Appoint More than One Lead Plaintiff in the DermTech Class Action Lawsuit?

​​Yes, at its discretion the Court may appoint a person, entity, or group of persons and/or entities as Lead Plaintiffs to oversee the DermTech class action lawsuit.

How Was the Class Period Determined in the DermTech Class Action Lawsuit?

In a securities fraud class action, such as the DermTech class action lawsuit, the class period refers to a period of time in which it is alleged the price of the company’s stock was artificially inflated due to false and misleading statements made by company executives.  The class period starts when the company makes an untrue statement of material fact about the company or fails to disclose a material fact necessary to render other statements not misleading.  The class period ends when the truth is revealed to the investing public through a corrective disclosure.  
 
In order to be a part of the class in the DermTech class action lawsuit, you must have suffered losses in DermTech stock by purchasing during the class period when it is alleged the price of the stock was artificially inflated to be included in the class action against DermTech​​.  ​

How Can a DermTech Stock Loss Lawyer Help Me if I Suffered Losses in DermTech Stock?

​​​​A DermTech stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals such as the class action against DermTech. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, they have lost money due to mistakes, incompetence, or fraud by an investment professional.

While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discover every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct. 

Look for a securities lawyer with experience, high ethical standards, verifiable credentials, and a trustworthy reputation among his peers and the judiciary, as well as testimonials from previous clients and awards and recognitions.

One name that immediately pops up is nationally known and widely respected Nashville lawyer Timothy L. Miles, who has valuable experience and has received numerous awards, mostly due to his high ethical standards, and hard work ethic, including most recently being named a Top 25 Class action lawyer by the National Trial Lawyers Association, and has maintained an AV rating from Martindale-Hubble since 2014, was named a 2023 Top Rated Litigator and 2023 Top Rated Lawyer by Martindale-Hubble and ALM, and was recently named a 2023 Elite Lawyer of the South by Martindale-Hubble for the fifth year in a row, and was a recipient of Avvo Client’s Choice Award in 2021, in 2022 was featured in the Top 100 Lawyers Magazine and received the Lifetime Achievement Award by Premier Lawyers of America (2019–2021).

​This will most likely be the only call you need to make. (855) 846–6529 or [email protected]. 

HOW MUCH DOES IT COST TO HIRE A DERMTECH STOCK LOSS LAWYER IF I SUFFERED LOSSES IN DERMTECH STOCK?

​​If you suffered losses in DermTech ​stock and are a member of the class, it does not cost anything to hire a DermTech stock loss lawyer.  Our firm litigates securities fraud cases on a contingent fee basis, so plaintiffs and the class do not pay attorneys’ fees or court costs unless there is a recovery, and the attorney fees and cost are awarded by the court as a percentage of the total recovery for the class.  So, contact DermTech stock loss lawyer Timothy L. MIles today if you suffered losses in DermTech ​stock about a DermTech class action lawsuit.  Again, this is likely the only call you will need to make. (855) 846–6529 or [email protected]. ​

IF I SUFFERED LOSSES IN DERMTECH STOCK, HOW MUCH CAN I GET OUT OF THE DERMTECH CLASS ACTION LAWSUIT?

​​​In a securities fraud class action lawsuit such as the class action against Dermtech, the plaintiff’s damages are typically calculated as out-of-pocket losses. These losses are expressed as the difference between the price at which the stock was sold and the price at which the stock would have been sold absent any artificial inflation caused by the defendant’s alleged misrepresentations or omissions which is why you suffered losses in DermTech stock. 

Contact DermTech stock loss lawyer Timothy L. Miles who could explain your losses in greater detail if you suffered losses in DermTech ​stock. (855) 846–6529 or [email protected]. 

When Can I Expect to Receive Payment if the DermTech Class Action Lawsuit Settles?

​If there is a settlement in the DermTech class action lawsuit, you should receive a court-ordered Notice through the mail which will provide a date when the court will hold a final hearing to decide if it will approve the settlement. If your address changed, you may also find lawsuits through sites such as Consumer Action and ClassAction.org along with instructions on how to submit a claim. The Notice will instruct you what you need to do to file a claim. In some class action settlements, you are automatically submitted and need to do nothing further. However, in others, you may be required to submit more information to proceed such as documentation proving your purchase, such as a receipt or brokerage slip or other evidence that you bought or sold DermTech stock during the class period and suffered losses in DermTech​ stock.
 
The court will hold a final hearing in the DermTech class action lawsuit on a date provided in the Notice to decide whether to finally approve the settlement. If the Court finally approves the settlement, and there are no objections or appeals, settlement payments will be mailed to all Participating Class Members within a few months. However, if there are objections or appeals, resolving them can take a significant amount of time, perhaps more than a year to resolve the DermTech class action lawsuit. ​

IF THERE IS A SETTLEMENT IN THE DERMTECH CLASS ACTION LAWSUIT, AND I DO NOT THINK IT IS FAIR, WHAT ARE MY OPTIONS AS A CLASS MEMBER?

​If you receive a notice that the DermTech class action lawsuit has been settled and you do not believe the settlement is fair but do not want to opt-out and file your own lawsuit, you may object to the settlement. You may object to any part of the settlement and the Court will consider all timely filed objections in the class action against DermTech. The notice will contain the date when any objections must be filed and include instructions on where to send your objection and include a date for the final hearing in the DermTech class action lawsuit if you would like to appear and be heard by the court in the class action against Dermtech.

CONTACT A DERMTECH STOCK LOSS LAWYER TODAY IF YOU SUFFERED LOSSES IN DERMTECH STOCK ABOUT A DERMTECH CLASS ACTION LAWSUIT

​If you suffered losses in DermTech stock, contact DermTech stock loss lawyer Timothy L. Miles today for a free case evaluation about a DermTech class action lawsuit.

It will be the only call you will need to make. (855) 846–6529 or [email protected]. 

DermTech stock loss lawyer Timothy L. Miles

Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator. and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, 6Class Action:  Class Action: Top National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM  (2019-2022); America's Most Honored Lawyers 2020; Top 1% by America's Most Honored (2020-2022).  Mr. Miles has published over sixty articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more.  Please visit our website or call for free anytime.

CONTACT                                                      
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529