Agilent Sends Letter to the SEC Regarding Material Misstatements in Twist Bioscience’s S-1 Registration Statement
October 29 2018 - 12:39PM
Business Wire
Agilent Technologies Inc. (NYSE: A) today announced that it sent
a letter to the Division of Corporation Finance of the U.S.
Securities and Exchange Commission (SEC) regarding misstatements in
the S-1 Registration Statement filed by Twist Bioscience Corp.
The letter informs the SEC that “Twist’s S-1 Fails to Disclose
that Twist CEO Emily Leproust Formed Twist While an Employee at
Agilent, and Became its CEO 17 Months Prior to Resigning from
Agilent.” The letter also informs the SEC that “Twist’s S-1 Fails
to Disclose the Material Fact that its CEO Emily Leproust and Other
Twist Employees Took and Retained Hundreds of Confidential
Documents Containing Agilent’s Trade Secrets and Proprietary
Information.”
Ms. Leproust admitted under oath that she secretly became
Twist’s CEO 17 months prior to leaving Agilent. Agilent’s Proposed
Second Amended Complaint (accessible here) describes in detail
Agilent’s allegations that during that time, Ms. Leproust raised
money to start a competitive company that would misappropriate
Agilent’s innovations of the past 20 years, poach Agilent’s
employees, and compete in the same markets with the same basic
technology—all while owing a statutory duty of loyalty to
Agilent.
The full text of Agilent’s letter to the SEC is available
here.
About Agilent Technologies
Agilent Technologies Inc. (NYSE: A) is a global leader in life
sciences, diagnostics, and applied chemical markets. With more than
50 years of insight and innovation, Agilent instruments, software,
services, solutions, and people provide trusted answers to
customers' most challenging questions. The company generated
revenues of $4.47 billion in fiscal 2017 and employs 14,500 people
worldwide. Information about Agilent is available
at www.agilent.com.
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Agilent Technologies Inc.Stefanie Notaney, +1
408-345-8955stefanie.notaney@agilent.com
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