Update: Lawsuit for Investors in NASDAQ: ILMN shares against Illumina, Inc. announced by Shareholders Foundation

SAN DIEGO, June 12, 2018 (GLOBE NEWSWIRE) -- The Shareholders Foundation, Inc. announces that a lawsuit is pending for certain investors in shares of Illumina, Inc. (ILMN, Financial).

Investors, who purchased shares of Illumina, Inc. (ILMN) in June 2016 or earlier and continue to hold any of those ILMN shares, have also certain options and should contact the Shareholders Foundation at [email protected] or call +1(858) 779 - 1554.

On December 16, 2016, a lawsuit was filed against Illumina, Inc. over alleged securities laws violations. The plaintiff alleged that the 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 May 30, 2017, an amended complaint was filed and on July 31, 2017, the defendants filed their motion to dismiss the case. On January 22, 2018, the court in part denied the defendant’s motion to dismiss the lawsuit.

Those who purchased Illumina, Inc. (ILMN) shares should contact the Shareholders Foundation, Inc.

The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.

CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
[email protected]
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108