A deadline is coming up on February 14, 2017 in the lawsuit filed for certain investors in NASDAQ:ILMN shares over alleged securities laws violations by Illumina.
Investors who purchased shares of Illumina, Inc. (NASDAQ:ILMN) have certain options and there are strict and short deadlines running. Deadline: February 14, 2017. NASDAQ:ILMN stockholders should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff claims that between July 26, 2016 and October 10, 2016 Defendants made allegedly false and/or misleading statements and failed to disclose that the Company was experiencing a large decline in high throughput sequencing instrument sales, that the decline was negatively impacting the Company’s revenue, that the Company lacked visibility into trends that could have a substantial impact on the Company’s financial results, that, as such, the Company’s revenue guidance was unreliable and overstated, and 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.
On October 10, 2016, Illumina, Inc. (NASDAQ:ILMN) announced estimated third quarter revenue of approximately $607 million. Illumina, Inc. said that this unaudited estimate, based on management’s preliminary financial analysis, is lower than the third quarter revenue guidance of $625 million to $630 million and that the shortfall in quarterly revenue was driven by a larger than anticipated year-over-year decline in high throughput sequencing instruments, and that as a result, the company expects fourth quarter revenue will be flat to slightly up sequentially. Shares of Illumina, Inc. (NASDAQ:ILMN) dropped from $186.70 per share on October 10, 2016, to as low as $133.80 per share on October 12, 2016.
Those who purchased NASDAQ:ILMN shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com