| COMPANY |
Illumina, Inc. |
| COURT |
United States District Court for the Southern District of California |
| CASE NUMBER |
23-cv-02082 |
| JUDGE |
The Hon. Linda Lopez |
| CLASS PERIOD |
September 21, 2020 through November 9, 2023 |
| SECURITY TYPE |
Securities |
Background:
This is a class action lawsuit on behalf of those who purchased or acquired Illumina, Inc. (“Illumina”) (NASDAQ: ILMN) securities between September 21, 2020 and November 9, 2023, both dates inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Illumina’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors that: (1) certain of the company’s insiders had personal financial motives for acquiring GRAIL; (2) contrary to Illumina’s attempts to discount Icahn’s criticism, Icahn had accurately concluded that insiders’ interests did not align with the company’s best interests; and (3) as a result of the foregoing, Defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
Current Status of Case:
On April 11, 2024, The Court entered an Order Consolidating Cases, Appointing Lead Plaintiff, and Appointing Lead Counsel. Lead Plaintiff filed an Amended Complaint on June 21, 2024. On November 12, 2024, Defendants filed a Motion to Dismiss. The Motion is fully briefed and pending a decision before the Court. This action is ongoing.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jonathan Naji, Esq. (484) 270-1453 or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.