Case Background:
This is a federal securities fraud class action lawsuit on behalf of those who purchased or otherwise acquired Illumina, Inc. (“Illumina”) (NASDAQ: ILMN) securities between September 21, 2020 and November 9, 2023, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Illumina’s business, operations, and prospects. Specifically, Defendants failed to disclose that: (1) certain of the company’s insiders had personal financial motives for acquiring GRAIL; (2) contrary to Illumina’s attempts to discount Icahn’s criticism, Icahn had accurately concluded that insiders’ interests did not align with the company’s best interests; and (3) as a result of the foregoing, Defendants’ positive statements about the company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On December 11, 2025, Defendants filed Motions to Dismiss the Amended Complaint. The Motions have been briefed and are pending decision before the Court. This action is ongoing.
If you wish to discuss this action or have any questions, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.