NEW YORK, Dec. 20, 2016 /PRNewswire/ -- Pomerantz LLP is
investigating claims on behalf of investors of Illumina, Inc.
("Illumina" or the "Company") (NASDAQ: ILMN). Such
investors are advised to contact Robert S.
Willoughby at rswilloughby@pomlaw.com or 888-476-6529, ext.
9980.
The investigation concerns whether Illumina and certain of its
officers and/or directors have engaged in securities fraud or other
unlawful business practices.
[Click here to join a class action]
On October 10, 2016, Illumina
issued a press release entitled "Illumina Announces Preliminary
Revenue for Third Quarter of Fiscal Year 2016." In the press
release, the Company announced estimated third quarter revenue of
approximately $607 million, which was
lower than the Company's third quarter revenue guidance in the
range of $625 million to $630
million. The Company attributed the shortfall to
"larger than anticipated year-over-year decline in high throughput
sequencing instruments." Illumina concurrently announced that
it expected fourth quarter revenue to be flat to slightly up
sequentially.
On this news, Illumina's share price fell $45.86, or 24.8%, to close at $138.99 on October 11,
2016.
The Pomerantz Firm, with offices in New York, Chicago, Florida, and Los
Angeles, is acknowledged as one of the premier firms in the
areas of corporate, securities, and antitrust class litigation.
Founded by the late Abraham L.
Pomerantz, known as the dean of the class action bar, the
Pomerantz Firm pioneered the field of securities class actions.
Today, more than 80 years later, the Pomerantz Firm continues in
the tradition he established, fighting for the rights of the
victims of securities fraud, breaches of fiduciary duty, and
corporate misconduct. The Firm has recovered numerous
multimillion-dollar damages awards on behalf of class members. See
www.pomerantzlaw.com
CONTACT:
Robert S.
Willoughby
Pomerantz LLP
rswilloughby@pomlaw.com
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SOURCE Pomerantz LLP