Cases
Illumina Inc. (NASDAQ : ILMN)
Securities Class Action
Overview
Overview
- Date:
- 12/19/2016
- Company Name:
- Illumina Inc.
- Stock Symbol:
- ILM
- Class Period:
- FROM 7/26/2016 TO 10/10/2016
- Status:
- Closed/Complete
- Court:
- U.S. District Court: District of Southern California
NEW YORK, December 19, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the California Southern District Court on behalf of all persons or entities who acquired the Illumina Inc. (NASDAQ: ILMN) securities between July 26, 2016 to October 10, 2016 (the “Class Period”).
The complaint alleges that during the Class Period, Illumina made materially false and misleading statements regarding the Company’s business, operations, and prospects. In particular, Illumina made false and/or misleading statements and failed to disclose: (1) that the Company was experiencing a sharp decrease in sequencing instrument sales; (2) that the decline had a significant impact on the Company’s revenue; (3) that the Company did not have visibility into trends that could have an impact on the Company’s financial outcomes; (4) that, as such, the Company’s revenue guidance was unreliable and exaggerated; and (5) that, as a result of the above, Illumina’s statements about the Company’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
If you acquired Illumina securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
The complaint alleges that during the Class Period, Illumina made materially false and misleading statements regarding the Company’s business, operations, and prospects. In particular, Illumina made false and/or misleading statements and failed to disclose: (1) that the Company was experiencing a sharp decrease in sequencing instrument sales; (2) that the decline had a significant impact on the Company’s revenue; (3) that the Company did not have visibility into trends that could have an impact on the Company’s financial outcomes; (4) that, as such, the Company’s revenue guidance was unreliable and exaggerated; and (5) that, as a result of the above, Illumina’s statements about the Company’s business, operations, and prospects were false and misleading and/or lacked a reasonable basis.
If you acquired Illumina securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.