Sequenom, Inc. is an American company that develops molecular technologies and laboratory genetic tests.

According to a press release dated May 1, 2009, the Complaint alleges that on April 29, 2009, after the market closed, Sequenom announced that the expected launch of its SEQureDx^TM Down syndrome test will be delayed because of employee mishandling of data and results. As a result, in after-market trading, Sequenom stock lost more than two-thirds of its trading value, falling from $14.91 to $4.69.

A further investigation will be conducted on the test results and data for all products, not just SEQureDx^TM. The Company admitted that multiple prior press releases and public statements concerning SEQureDx^TM can no longer be relied upon, including press releases the Company issued on June 4, 2008, September 23, 2008, December 1, 2008, January 28, 2009, and February 3, 2009.

On September 01, 2009, an Order to Consolidate Related Actions, appoint the Los Angeles City Employees' Retirement System as lead Plaintiff, and approve lead Plaintiff's Choice of Kaplan Fox & Kilsheimer LLP as lead Counsel was granted by the court.

On January 28, 2010, an order preliminarily approving settlement and the stipulations were granted by the Court.

On May 04, 2010, a Final Judgment and dismissal was ordered by the Court as to the Defendants. On the same day, an Order Approving the Plan of Distribution of Settlement Proceeds, as well as an Order Granting an Application for an Award of Attorneys' Fees and Reimbursement of Expenses was granted.

On December 10, 2010, the Court issued an Order Authorizing Disbursement of the Net Settlement Fund.