Navigation Links
The Law Firm of Levi & Korsinsky, LLP Launches an Investigation Into Possible Securities Laws Violations by Pacific Biosciences of California, Inc.
Date:12/5/2011

NEW YORK, Dec. 5, 2011 /PRNewswire/ -- Levi & Korsinsky is investigating potential claims on behalf of purchasers of the securities of Pacific Biosciences of California, Inc. ("PacBio" or the "Company") (NASDAQ: PACB) concerning possible violations of federal securities laws.

For more information, click here: http://zlk.9nl.com/pacific-biosciences-california-pacb/.

The investigation stems from allegations that the Company failed to disclose the following: (a) that contrary to the Company's claim that the RS system its used for DNA sequencing had a 'market dominating' 99.3 percent base calling accuracy rate, the system's raw-read accuracy rate was in fact between 80 and 84 percent; (b) that as a result of PacBio's inefficient RS system, potential customers would be forced to sacrifice long read length time to obtain increased raw-read accuracy in DNA sequencing; (c) that numerous bugs and flaws in PacBio's RS system caused it to crash frequently; and (d) owing to the aforementioned problems, PacBio's RS system was receiving significant negative feedback.

On September 21, 2011, PacBio disclosed that its operations were threatened by the Company's cash burn and, as a result, the Company would lay off 130 employees and would incur $5 million in related separation expenses.  In reaction to this news, PacBio stock plummeted 25% to close at $4.25 per share.

If you own PacBio stock and wish to obtain additional information about the investigation and your legal rights, please contact Joseph E. Levi, Esq. either via email at jlevi@zlk.com or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or visit http://www.zlk.com/pacific-biosciences-california-pacb.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. Attorney advertising. Prior results do not guarantee similar outcomes.

CONTACT:   
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky, Esq.
30 Broad Street - 15th Floor
New York, NY 10004           
Tel: (212) 363-7500
Toll Free:  (877) 363-5972
Fax: (212) 363-7171
www.zlk.com

 


'/>"/>
SOURCE Levi & Korsinsky, LLP
Copyright©2010 PR Newswire.
All rights reserved

Related biology technology :

1. Generex Provides Update on Generex Oral-lyn™ Clinical & Regulatory Program
2. Elsevier Announces Availability of Urban & Fischer Journal Archives on SciVerse ScienceDirect
3. Drug-Free BLOOD PRESSURE Control & Medical "Take-Away" Treatment are Potential Win-Win Solutions in Health Care
4. Amsterdam Molecular Therapeutics Provides Operations Update & Strategic Review of Pipeline
5. S&P Capital IQ Picks Celgene Focus Stock of the Week
6. Sandell Asset Management Seeks Sale of Rubicon & Tenon, Expansion of Board
7. Wound Management Technologies to Present at AdvaMed 2011; Conferences Featured Speakers to Include President George W. Bush & HHS Secretary Kathleen Sebelius
8. AtheroNova Rodman & Renshaw Presentation Now Online at www.AtheroNova.com
9. Building, Validating & Maintaining Controlled Environment Facilities is Focus of Oct. 18th Seminar in Boston Hosted by Microtest Laboratories
10. Johnson & Johnson Symposium Honors 2011 Recipient of The Dr. Paul Janssen Award for Biomedical Research
11. Palatin Technologies, Inc. to Present at the Rodman & Renshaw Annual Global Investment Conference
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:12/7/2016)... The report "Acrylic Processing Aid Market by Polymer Type (PVC), Fabrication Process (Extrusion, Injection ... to 2026", published by MarketsandMarkets, the global market size was USD 645.4 Million ... an of CAGR of 6.2% between 2016 and 2026. ... ... , , ...
(Date:12/7/2016)... 2016  Muse bio, a privately-held company leading the ... Dr. Kevin Ness has been appointed Chief ... Kevin succeeds Muse bio,s founding CEO ... Science Officer as well as remains Slade Professor, Chemical ... Center at the RAS Energy Institute at the University ...
(Date:12/7/2016)... ... December 07, 2016 , ... Cambrian Innovation ... industrial facilities, today announced that one of the nation’s fastest growing craft breweries, ... water-energy purchase agreement (WEPA). Under the WEPA, a first for the industrial wastewater ...
(Date:12/7/2016)... ... December 07, 2016 , ... ... program for SmartBiome -- a novel metagenomic deep-sequencing research platform. SmartBiome combines ... detection of hundreds of different genes. The selective early access program is ...
Breaking Biology Technology:
(Date:11/21/2016)... Nov. 21, 2016   Neurotechnology , a ... technologies, today announced that the MegaMatcher On Card ... submitted for the NIST Minutiae Interoperability Exchange ... the mandatory steps of the evaluation protocol. ... continuing test of fingerprint templates used to establish ...
(Date:11/17/2016)... LONDON , Nov. 17, 2016 Global Market ... and Public Biobanks (Disease-Based Banks, Population-Based Banks and Academics) market ... Geographical analysis for Private Biobanks shows the highest Compounded Annual ... Asia-Pacific region during the analysis period 2014-2020. ... a CAGR of 9.95% followed by Europe ...
(Date:11/16/2016)... CLARA, Calif. , Nov. 16, 2016 ... enhancing user experience and security for consumer electronics, ... for the financial and retail industry, today announced ... secure and convenient way to authenticate users of ... uses Sensory,s TrulySecure™ software which requires ...
Breaking Biology News(10 mins):