Bragar Eagel & Squire, P.C. Is Investigating EchoStar, Semler, ADTRAN, and Fulgent and Encourages Investors to Contact the Firm

/EIN News/ -- NEW YORK, June 02, 2025 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized shareholder rights law firm, is investigating potential claims against EchoStar Corporation (NASDAQ:SATS), Semler Scientific Inc. (NASDAQ:SMLR), ADTRAN Holdings, Inc. (NASDAQ:ADTN), and Fulgent Genetics, Inc. (NASDAQ: FLGT). Our investigations concern whether these companies have violated the federal securities laws and/or engaged in other unlawful business practices. Additional information about each case can be found at the link provided.

EchoStar Corporation (NASDAQ:SATS)

On May 12, 2025, The Wall Street Journal reported that the Federal Communications Commission had notified EchoStar that it would be investigating the Company’s compliance with federal requirements to build a nationwide 5G network.

On this news, EchoStar’s stock price fell $4.01, or 16.6%, to close at $20.18 per share on May 12, 2025, thereby injuring investors.

For more information on the EchoStar investigation go to: https://bespc.com/cases/SATS

Semler Scientific Inc. (NASDAQ:SMLR)

On February 28, 2025, Semler filed its Form 10-K with the SEC and therein, disclosed that the Company received an initial civil investigative demand from the U.S. Department of Justice ("DOJ") in July 2017 regarding Semler's claims for reimbursement related to its QuantaFlo device. Semler received subsequent requests for information in February 2019, December 2021, April 2022, and April 2023. In February 2025, Semler participated in settlement discussions with the DOJ, which were unsuccessful. The Company disclosed that "there is a risk that DOJ will file a complaint or complaint in intervention in a civil False Claims Act lawsuit seeking damages." On this news, the price of Semler shares declined by $4.03 per share, from $42.92 per share on February 28, 2025, to close at $38.89 on March 3, 2025.

For more information on the Semler investigation go to: https://bespc.com/cases/SMLR

ADTRAN Holdings, Inc. (NASDAQ:ADTN)

On May 13, 2025, ADTRAN disclosed in a filing with the U.S. Securities and Exchange Commission that "the Company's (i) audited consolidated financial statements as of and for the years ended December 31, 2024 (‘Fiscal 2024') and December 31, 2023 (‘Fiscal 2023') included in the Company's Annual Report on Form 10-K filed with the SEC on March 3, 2025 (the ‘2024 Form 10-K'), and (ii) unaudited condensed financial statements as of and for the interim periods ended March 31, 2024, June 30, 2024 and September 30, 2024 (the ‘2024 Interim Periods') included in the Company's Quarterly Reports filed with the SEC on May 10, 2024, August 9, 2024, and November 12, 2024, respectively (such 2024 Interim Periods, collectively with Fiscal 2024 and Fiscal 2023, the ‘Non-Reliance Periods'), as well as the relevant portions of any communication which describe or are based on such financial statements, should no longer be relied upon" and would be restated. ADTRAN stated that "management is evaluating the impact of this matter on its internal control over financial reporting as of December 31, 2024 and has identified at least one additional material weakness."

On this news, ADTRAN's stock price fell $0.41 per share, or 4.79%, to close at $8.15 per share on May 14, 2025.

For more information on the ADTRAN investigation go to: https://bespc.com/cases/ADTN

Fulgent Genetics, Inc. (NASDAQ: FLGT)

On February 28, 2025, Fulgent disclosed in its annual report, filed with the U.S. Securities and Exchange Commission, that it had received a civil investigative demand from the U.S. Department of Justice regarding potential false claims submitted under the Uninsured Program.

On this news, Fulgent's stock price fell $0.41 per share, or 2.61%, over the following two trading sessions, to close at $15.28 per share on March 3, 2025.

For more information on the Fulgent investigation go to: https://bespc.com/cases/FLGT

About Bragar Eagel & Squire, P.C.:

Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York, California, and South Carolina. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.

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Contact Information:

Bragar Eagel & Squire, P.C.
Brandon Walker, Esq.
Marion Passmore, Esq.
(212) 355-4648
investigations@bespc.com
www.bespc.com