Settlement Approved in Illumina Class Action

On March 17, 2021, the Honorable M. James Lorenz signed an order granting final approval of the settlement in the case captioned In re Illumina Inc. Securities Litigation, No. 3:16-cv-3044-L-MSB (S.D. Cal.). A copy of the order can be viewed here.

The settlement provided for the payment of $13.85 million to eligible class members.  Plaintiffs alleged violations of §§ 10(b) and 20(a) of the Securities Exchange Act of 1934 based on false and misleading misstatements made by the company concerning sales of its traditional “HiSeq” sequencing instrument.