The Final Approval Hearing scheduled for April 20, 2020, at 10:30 a.m. will be held telephonically. Do not attempt to attend the hearing in person. Please contact Lead Counsel for additional details.
The information contained on this website is only a summary of the information presented in more detail in the Notice of Pendency and Proposed Settlement of Class Action. Because this website is just a summary, you should review the Notice for additional details.
Summary of the Action and Settlement
The Settlement resolves class action litigation over whether Illumina, and certain Illumina executives, made materially false or misleading statements or omissions to investors concerning, among other things, Illumina’s July 26, 2016 earnings guidance, which projected that the Company would earn revenue of between $625 million and $630 million in the third quarter of 2016 and projected approximately 12% revenue growth and non-GAAP earnings per diluted share of $3.48 to $3.58 for the fiscal year 2016.
Subject to Court approval, a Settlement fund of $13,850,000 total in cash will be established pursuant to the Settlement. The Net Settlement Fund (the Settlement Fund less court-awarded attorneys’ fees and expenses, Notice and Administration Expenses, any required Taxes or Tax Estimates payments, and any other fees or expenses approved by the Court) will be distributed in accordance with a proposed plan of allocation (the “Plan of Allocation”) that will be approved by the Court and will determine how the Net Settlement Fund shall be allocated to Class Members. The Plan of Allocation begins on page 8 of the Notice.
The Settlement Class consists of:
all persons or entities who purchased or otherwise acquired a legal or beneficial ownership interest in Illumina’s common stock between July 26, 2016 through October 10, 2016, inclusive.
|
YOUR LEGAL RIGHTS AND OPTIONS IN THE SETTLEMENT
|
|
REMAIN A MEMBER OF THE CLASS AND FILE A PROOF OF CLAIM FORM.
|
This is the only way to receive a payment. If you wish to obtain a payment as a member of the Settlement Class, you will need to file a proof of claim form (the “Proof of Claim Form”), which can be found on the Important Documents section of the website, postmarked or submitted online no later than APRIL 27, 2020. The deadline has passed.
|
|
EXCLUDE YOURSELF FROM THE CLASS BY SUBMITTING A WRITTEN REQUEST FOR EXCLUSION SO THAT IT IS POSTMARKED NO LATER THAN MARCH 23, 2020. The deadline has passed.
|
If you exclude yourself from the Settlement Class, you will receive no payment pursuant to this Settlement. You may be able to seek recovery against Defendants or other Released Parties through other litigation.
|
|
OBJECT TO THE SETTLEMENT BY SUBMITTING A WRITTEN OBJECTION SO THAT IT IS POSTMARKED NO LATER THAN MARCH 23, 2020. The deadline hass passed.
|
Write to the Court and explain why you do not like the Settlement, the proposed Plan of Allocation, or the request for attorneys’ fees and reimbursement of Litigation Expenses. You cannot object to the Settlement unless you are a member of the Settlement Class and do not validly exclude yourself.
|
|
GO TO THE HEARING ON APRIL 20, 2020 AT 10:30 A.M., AND FILE A NOTICE OF INTENTION TO APPEAR SO THAT IT IS POSTMARKED NO LATER THAN MARCH 23, 2020. The deadline has passed.
|
You may attend the hearing to speak in Court about the fairness of the Settlement, the proposed Plan of Allocation, or Lead Counsel’s request for attorneys’ fees and reimbursement of Litigation Expenses. You cannot object to the Settlement unless you are a member of the Settlement Class and do not validly exclude yourself.
|
|
DO NOTHING
|
Receive no payment, remain a Settlement Class Member, give up your rights to seek recovery against Defendants and the other Released Parties through other litigation and be bound by the Judgment entered by the Court if it approves the Settlement, including the release of the Released Claims.
|
How do I obtain more information?
Detailed information about the Action and the Settlement is contained in the Notice. Additional information can also be obtained by contacting the Claims Administrator by calling toll-free 1-833-216-4455; or emailing info@IlluminaSecuritiesSettlement.com or mailing a letter to:
Illumina, Inc. Securities Litigation
c/o JND Legal Administration
P.O. Box 91086
Seattle, WA 98111-9186
Inquiries should NOT be directed to the Court or the Clerk of the Court.
© JND Legal Administration. All rights reserved.
