San Diego, CA -- (SBWire) -- 12/04/2023 --An investor, who purchased NASDAQ: ILMN shares, filed a lawsuit against Illumina, Inc. over alleged violations of Federal Securities Laws by Illumina, Inc. in connection with certain allegedly false and misleading statements.
Investors who purchased shares of Illumina, Inc. (NASDAQ: ILMN) have certain options and for certain investors are short and strict deadlines running. Deadline: January 09, 2023. NASDAQ: ILMN investors should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
On August 10, 2023, Illumina, Inc. revealed that the SEC was investigating the Company's statements regarding its recent acquisition of GRAIL, Inc. ("GRAIL"), including "conduct and compensation of certain members of Illumina and GRAIL management."
Then, on October 17, 2023, Carl Icahn ("Icahn") filed a complaint against current and former directors of Illumina, Inc, alleging direct and derivative claims of breaches of fiduciary duty. The complaint was filed under seal, but according to Reuters, Icahn "told the 13D Monitor Active-Passive Investor Summit in New York on Tuesday that the lawsuit pertained to Illumina completing its acquisition of cancer diagnostic test maker Grail."
Shares of Illumina, Inc. (NASDAQ: ILMN) declined from $233.42 per share on April 03, 2023, to as low as $89.00 per share on November 10, 2023.
The plaintiff claims that between May 1, 2023 and October 16, 2023, the Defendants failed to disclose to investors that certain of the Company's insiders had personal financial motives for acquiring GRAIL, that, 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 that, 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.
Those who purchased shares of Illumina, Inc. (NASDAQ: ILMN) have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About The Shareholders Foundation
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
NASDAQ:ILMN Investor Notice: Lawsuit Alleges Securities Laws Violations by Illumina, Inc.
A lawsuit was filed on behalf of investors in Illumina, Inc. (NASDAQ:ILMN) shares over alleged securities laws violations.