Johnson Bottini, LLP has filed a class action lawsuit in US District Court for the Southern District of California on behalf of all persons who purchased or otherwise acquired securities of Sequenom, Inc. (Sequenom), an in vitro diagnostics company, between June 4, 2008 and April 29, 2009. The complaint alleges that Sequenom and certain of its executive officers violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 by issuing false and misleading statements.
The complaint alleges that on April 29, 2009, after the market closed, Sequenom announced that the expected launch of its SEQureDxTM Down syndrome test will be delayed because of employee mishandling of data and results.
Plaintiff seeks to recover damages on behalf of the class members and has retained Johnson Bottini, a law firm with significant experience in prosecuting class actions and substantial expertise in actions involving corporate fraud.
A further investigation will now be conducted on the test results and data for all products, not just SEQureDxTM. The company admitted that multiple prior press releases and public statements concerning SEQureDxTM 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.