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Biotech Co. Illumina Inks $14M Deal To End Stock-Drop Suit

Law360 (June 12, 2019, 5:18 PM EDT) -- Biotechnology company Illumina Inc. reached a nearly $14 million deal with its investors to end securities fraud claims that it artificially inflated its stock prices by hiding declining sales from the public, according to a proposed agreement filed in California federal court Tuesday.

In their bid for preliminary approval of the settlement, the shareholders also requested that the court certify their class for settlement purposes and noted that Levi & Korsinsky LLP in its role as lead counsel will ask for 25% of the settlement fund — or approximately $3.46 million — in attorney fees.

Investors said the $13.85 million deal, which...

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Attached Documents



Case Information

Case Title

Subscribers Only

Case Number

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California Southern

Nature of Suit



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Date Filed

December 16, 2016

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