Sequenom To End Shareholder Suits With $45M Deal

Law360, New York (January 22, 2010, 2:56 PM EST) -- Sequenom Inc. has reached a deal worth roughly $45 million to resolve a slew of shareholder suits accusing the genetic analysis company of inflating its stock price with hype about a prenatal screening test for Down syndrome.

The settlement, which includes $14 million in cash and nearly 10 percent of the outstanding shares of company stock, would resolve about nine cases consolidated in the U.S. District Court for the Southern District of California, according to a motion filed Thursday.

As part of the agreement, which is...
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