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:10/11/2017)... ... October 11, 2017 , ... At ... Purple announced Dr. Suneel I. Sheikh, the co-founder, CEO and chief research scientist ... has been selected for membership in ARCS Alumni Hall of Fame . ...
(Date:10/11/2017)... ... October 11, 2017 , ... ... it will be hosting a Webinar titled, “Pathology is going digital. Is your ... on digital pathology adoption best practices and how Proscia improves lab economics and ...
(Date:10/11/2017)... ... October 11, 2017 , ... A new study published in ... and fresh in vitro fertilization (IVF) transfer cycles. The multi-center matched ... , After comparing the results from the fresh and frozen transfer cohorts, the ...
(Date:10/10/2017)... ... October 10, 2017 , ... For ... has won a US2020 STEM Mentoring Award. Representatives of the FirstHand program travelled ... Volunteer Experience from US2020. , US2020’s mission is to change the trajectory of ...
Breaking Biology Technology:
(Date:4/13/2017)... SANTA MONICA, Calif. , April 13, 2017 /PRNewswire/ ... New York will feature emerging and ... Innovation Summits. Both Innovation Summits will run alongside the ... variety of speaker sessions, panels and demonstrations focused on ... east coast,s largest advanced design and manufacturing event will ...
(Date:4/11/2017)... 11, 2017 No two people are ... the New York University Tandon School of Engineering ... found that partial similarities between prints are common ... mobile phones and other electronic devices can be ... vulnerability lies in the fact that fingerprint-based authentication ...
(Date:4/5/2017)... 2017 Today HYPR Corp. , leading ... component of the HYPR platform is officially FIDO® ... security architecture that empowers biometric authentication across Fortune 500 ... secured over 15 million users across the financial services ... home product suites and physical access represent a growing ...
Breaking Biology News(10 mins):