IMPORTANT INVESTOR ALERT: Goldberg Law PC Announces Securities Class Action Lawsuit against Illumina, Inc. & Encourages Inves...
January 09 2017 - 07:10PM
Business Wire
Goldberg Law PC, a national shareholder rights litigation firm,
announces the filing of a class action lawsuit against Illumina,
Inc. (“Illumina” or the “Company”) (Nasdaq: ILMN). Investors who
purchased or otherwise acquired Illumina shares between July 26,
2016 and October 10, 2016 inclusive (the “Class Period”), are
encouraged to contact the firm in advance of the February 14, 2017
lead plaintiff motion deadline.
If you are a shareholder who suffered a loss during the Class
Period, we encourage you to click here or contact Michael Goldberg
or Brian Schall, of Goldberg Law PC, 1999 Avenue of the Stars,
Suite 1100, Los Angeles, CA 90067, at 800-977-7401, to discuss your
rights free of charge. You can also reach us through the firm’s
website at http://www.Goldberglawpc.com, or by email
at info@goldberglawpc.com.
The class in this case has not yet been certified, and until
certification occurs, you are not represented by an attorney. If
you choose to take no action, you can remain an absent class
member.
According to the Complaint, during the Class Period, Defendants
made materially false and misleading statements regarding the
Company’s business, operations, and prospects. In particular,
Defendants made false and/or misleading statements and failed to
disclose: that Illumina was experiencing a significant decline in
sequencing instrument sales; that the decrease had a significant
impact on the Company’s revenue; that the Company did not have
visibility into trends that could have a consequence on the
Company’s financial outcomes; that, as such, the Company’s revenue
guidance was unreliable and exaggerated; and that, as a result of
the above, Defendants’ positive statements about Illumina’s
business, operations, and prospects, were false and misleading
and/or lacked a reasonable basis.
On October 10, 2016 Illumina revealed its financial results for
the third quarter of fiscal year 2016. The company had anticipated
revenues of $625 to $630 million for the quarter. However, due to
“declining demand for its high-speed genetic sequences” Illumina
failed to meet this revenue.
When this information was released to the public, Illumina stock
dropped on October 11, 2016, causing investors severe harm.
Goldberg Law PC represents shareholders around the world and
specializes in securities class actions and shareholder rights
litigation.
This press release may be considered Attorney Advertising in
some jurisdictions under the applicable law and ethical rules.
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version on businesswire.com: http://www.businesswire.com/news/home/20170109006447/en/
Goldberg Law PC, Los AngelesMichael Goldberg, Esq.,
800-977-7401Brian Schall, Esq.,
800-977-7401info@goldberglawpc.comhttp://www.Goldberglawpc.com
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