On March 30, 2017, United States District Court Judge M. James Lorenz in the Southern District of California appointed Levi & Korsinsky to represent Illumina, Inc. (NASDAQGS: ILMN) shareholders in the ongoing class action securities fraud lawsuit In re Illumina, Inc. Securities Litigation (3:16-CV-03044-L-MDD). On May 30, 2017, Levi & Korsinsky filed an amended complaint against Illumina and its senior officers.
The amended complaint seeks to hold Illumina and its officers liable for repeatedly providing investors with inaccurate revenue guidance information. As alleged, the defendants provided investors with revenue estimates even though the company was unequipped to provide such information. The defendants engaged in a reckless course of conduct that resulted in significant losses to investors when, on October 10, 2016, Illumina once again revealed that the company’s quarterly revenue was significantly less than previously anticipated. A copy of the amended complaint is available here.
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