Recent Security Class Actions

Illumina Inc. Common Stock (NASDAQ: ILMN)

Company Name:Illumina Inc. Common Stock
Stock Symbol:NASDAQ: ILMN
Class Period Start:07/26/2016
Class Period End (inclusive):10/10/2016
Filing Deadline:02/14/2017

According to the law firm press release, the filed complaint alleges that throughout the Class Period, Defendants made materially false and misleading statements regarding the Company's business, operations, and prospects. Specifically, Defendants made false and/or misleading statements and failed to disclose: (1) that the Company was experiencing a large decline in high throughput sequencing instrument sales; (2) that the decline was negatively impacting the Company's revenue; (3) that the Company lacked visibility into trends that could have a substantial impact on the Company's financial results; (4) that, as such, the Company's revenue guidance was unreliable and overstated; and (5) that, as a result of the foregoing, Defendants' positive statements about Illumina's business, operations, and prospects, were false and misleading and/or lacked a reasonable basis.