Celera Shareholders Win Class Cert.

Law360, Los Angeles (February 26, 2014, 4:26 PM EST) -- A California federal judge on Tuesday certified the class in a shareholder suit accusing medical diagnostics company Celera Corp. of covering up billing problems and making overly optimistic revenue forecasts, ruling that the class met predominance and superiority requirements needed for certification.

Granting the class certification motion filed by lead plaintiff Washtenaw County Employees Retirement System, U.S. District Judge Edward J. Davila said there is a presumption that every class member relied on alleged financial misstatements by the medical diagnostics company and its officers when buying...
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