Processing your request

please wait...

Case Page


Case Status:    SETTLED
On or around 12/10/2010 (Date of order of distribution of settlement)

Filing Date: May 01, 2009

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 now 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 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.

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


Sector: Healthcare
Industry: Medical Equipment & Supplies
Headquarters: United States


Ticker Symbol: SQNM
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data

"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: S.D. California
DOCKET #: 09-CV-00921
JUDGE: Hon. Barry Ted Moskowitz
DATE FILED: 05/01/2009
CLASS PERIOD END: 04/29/2009
  1. Coughlin Stoia Geller Rudman & Robbins LLP (San Diego)
  2. Holzer & Holzer, LLC
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
No Document Title Filing Date