Supreme Court Rejects CareDx's $45M False-Advertising Appeal Against Natera
CDNA has more than doubled off its 52-week low of $10.96 on light trading volume (0.4× avg).
Summary
The U.S. Supreme Court declined to hear CareDx's appeal in its false-advertising dispute against Natera (NTRA), upholding lower court decisions that overturned a $45 million jury verdict in CareDx's favor. This definitively ends CareDx's attempt to recover damages from Natera for allegedly misleading advertisements about kidney-transplant tests. The ruling removes a significant legal overhang for both companies, with CareDx losing a potential material financial award and Natera avoiding a substantial liability. This follows a period of positive operational news for CareDx, including a divestiture, strong Q1 earnings, and a new buyback program.
At the time of this announcement, CDNA was trading at $22.69 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.2B. The 52-week trading range was $10.96 to $23.24. This news item was assessed with negative market sentiment and an importance score of 9 out of 10. Source: Reuters.