23andMe

2024 - 1 - 31

The Dramatic Downfall of 23andMe: From Billion-Dollar Valuation to Stock Crisis

23andMe - Data Breach - Genetic Testing - Lawsuits - Stock Market

Discover the shocking story of 23andMe's plummet from grace and the looming threat of delisting from the stock market.

23andMe, once a genetic testing giant valued at $6 billion, now teeters on the edge of disaster. The company is facing a barrage of lawsuits, including class action suits and data breach incidents, putting its future on the Nasdaq in jeopardy. Hackers selling user information, particularly targeting those of Jewish ancestry, have dealt severe blows to 23andMe's once pristine reputation.

Legal battles have further marred the company's image, with plaintiffs' lawyers divided over the handling of the data breach cases. Despite attempts to mediate, the fallout from the security breaches continues to haunt 23andMe, showcasing a glaring vulnerability in its data protection measures.

As 23andMe struggles to stay afloat amidst financial turmoil and public scrutiny, its CEO faces mounting pressure to salvage the sinking ship. The company's stock price has taken a nosedive, shedding billions in value and prompting questions about its sustainability in the competitive genetic testing market.

Despite its gloomy outlook, 23andMe's story serves as a cautionary tale in the tech industry, reminding companies of the importance of robust cybersecurity and maintaining consumer trust. The legacy of 23andMe's rise and fall resonates as a stark reminder of the perils of neglecting data security in the digital age.

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Image courtesy of "Fast Company"

23andMe at risk of being delisted from the Nasdaq as lawsuits mount (Fast Company)

Once valued at $6 billion, 23andMe now faces multiple class action suits and a possible stock delisting.

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Image courtesy of "The Times of Israel"

23andMe faces lawsuit as hackers sell information on users with ... (The Times of Israel)

DNA testing company 23andMe blames users' recycled passwords for data breach that affected 6.9 million accounts; August lawsuit indicates other companies ...

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Image courtesy of "WPLG Local 10"

Hackers take down 23andMe, target users of Jewish ancestry (WPLG Local 10)

Hackers who profit from stolen data have taken down a California-based consumer genetics company that millions of customers had trusted in the United States ...

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Image courtesy of "Law.com"

Plaintiffs' Lawyers Divided Over Early Mediation of 23andMe Data ... (Law.com)

23andMe filed a Dec. 21 motion for the U.S. Judicial Panel on Multidistrict Litigation to coordinate the data breach cases in the Northern District of ...

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Image courtesy of "JNS.org"

23andMe data breach targeted Jews (JNS.org)

For five months last year, hackers penetrated the security of the DNA-sequencing company 23andMe, resulting in customer data appearing for sale in “curated” ...

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Image courtesy of "GlobeNewswire"

Lawsuits for Consumers with Accounts at 23andMe Holding Co ... (GlobeNewswire)

SAN DIEGO, Jan. 31, 2024 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that several lawsuits were filed by consumers with an account at ...

2024-01-31 | NDAQ:ME | Press Release | 23andMe Holding Co. (Stockhouse)

2024-01-31 | NDAQ:ME) INVESTIGATION ALERT: Levi & Korsinsky, LLP Reminds Consumers of an Investigation of the 23andMe Hold.

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Image courtesy of "The Wall Street Journal"

23andMe's Fall From $6 Billion to Nearly $0 (The Wall Street Journal)

From celebrity 'spit parties' to a drop in the bucket: The once-hot DNA-testing company is struggling to profit. Anne Wojcicki of 23andMe, center, ...

23andMe far from spitting distance to big healthcare aims: WSJ (Becker's Hospital Review)

"Discover the challenges faced by 23andMe, the direct-to-consumer DNA-testing business, as it shifts its focus to healthcare and drug development under the ...

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Image courtesy of "Futurism"

23andMe Has Lost Billions, Almost Worthless Now (Futurism)

Direct-to-consumer DNA testing company 23andMe could soon run out of money after burning through over a billion dollars in cash.

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Image courtesy of "Newser"

23andMe Has Gone From Hot to Not. Can Its CEO Save It? (Newser)

Genetic testing company 23andMe's stock is trading at around 75 cents as of this writing, a precipitous fall for a company that the Wall Street Journal dubs ...

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Image courtesy of "Invezz"

As the 23andMe (ME) stock price implodes, here's the silver lining (Invezz)

23&Me, a company that does genetic testing, has had a remarkable fall from grace in the past few years. Its revenue growth has moved in reverse, cash burn has ...

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