According to the lawsuit, throughout the class period, defendants made materially false and/or misleading statements and/or defendants failed to disclose that:
- certain of Illumina’s insiders had personal financial motives for re-acquiring GRAIL, Inc., (“GRAIL”), which had been a former corporate subsidiary that was formed to develop a blood-based cancer detection test;
- contrary to Illumina’s attempts to discount Icahn’s criticism, Icahn had accurately concluded that insiders’ interests did not align with Illumina’s best interests; and
- as a result of the foregoing, defendants’ positive statements about Illumina’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
No Class Has Been Certified. Until a class is certified, you are not represented by counsel unless you retain one. You may select counsel of your choice. You may also remain an absent class member and do nothing at this point. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
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