Grabar Law Office Investigates Claims on Behalf of Shareholders of Illumina, Inc. (ILMN)

Philadelphia, Pennsylvania--(Newsfile Corp. - December 27, 2023) - A recently filed securities fraud complaint alleges current and former directors of Illumina, Inc. (NASDAQ: ILMN), breached their fiduciary duty owed to the Company. The Complaint was filed under seal, but according to Reuters, the investor "told the 13D Monitor Active-Passive Investor Summit in New York on Tuesday that the lawsuit pertained to Illumina completing its acquisition of cancer diagnostic test maker Grail."

This complaint alleges that Illumina, via certain of its officers and directors, made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company's business, operations, and prospects, including: (1) that certain of the Company's insiders had personal financial motives for acquiring GRAIL; (2) that the Company's insiders' interests did not align with the Company's best interests; and (3) that, 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.

If you have continuously held Illumina shares since prior to September 21, 2020, you may seek corporate reforms, the return of funds back to company coffers, and a court approved incentive award at no cost to you.

If you would like to learn more about this matter, you are encouraged to visit https://grabarlaw.com/the-latest/illumina-shareholder-investigation/, contact Joshua H. Grabar at jgrabar@grabarlaw.com or Mia R. Heller at mheller@grabarlaw.com, or call 267-507-6085.

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Contact:
Joshua H. Grabar, Esq.
Grabar Law Office
One Liberty Place
1650 Market Street, Suite 3600
Philadelphia, PA 19103
Tel: 267-507-6085
Email: jgrabar@grabarlaw.com

To view the source version of this press release, please visit https://www.newsfilecorp.com/release/192430