Navigation Links
Shareholder Class Action Filed Against Sequenom, Inc. by the Law Firm of Barroway Topaz Kessler Meltzer & Check, LLP
Date:5/8/2009

RADNOR, Pa., May 8 /PRNewswire/ -- The following statement was issued today by the law firm of Barroway Topaz Kessler Meltzer & Check, LLP:

Notice is hereby given that a class action lawsuit was filed in the United States District Court for the Southern District of California on behalf of purchasers of the securities of Sequenom, Inc. (Nasdaq: SQNM) ("Sequenom" or the "Company") between June 4, 2008 and April 29, 2009 inclusive (the "Class Period").

If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Barroway Topaz Kessler Meltzer & Check, LLP (Darren J. Check, Esq. or David M. Promisloff, Esq.) toll free at 1-888-299-7706 or 1-610-667-7706, or via e-mail at info@btkmc.com.

The Complaint charges Sequenom and certain of its officers and directors with violations of the Securities Exchange Act of 1934. Sequenom is engaged in genetics analysis and diagnostic testing. The Company had been developing a test known as SEQureDx, which was to be a non-invasive prenatal test for Down Syndrome. More specifically, the Complaint alleges that the Company failed to disclose and misrepresented the following material adverse facts which were known to defendants or recklessly disregarded by them: (1) that the Company's employees had mishandled test data and results for SEQureDx; (2) that SEQureDx failed to provide a significant improvement to existing Triple and Quad Tests; (3) that as a result, the Company would be unable to achieve a commercial launch of the test by June 2009; (4) that the Company lacked adequate internal controls; and (5) that, as a result of the foregoing, the Company's statements about its financial well-being and future business prospects were lacking in any reasonable basis when made.

On April 29, 2009, the Company astounded its investors and the market when it announced that the launch of SEQureDx would be delayed due to the discovery by Company officials of employee mishandling of research and development ("R&D") test data and results. As a result, the Company announced that its statements made between June 4, 2008 and February 3, 2009 regarding SEQureDx should no longer be relied upon. Following this announcement, it became apparent that the Company would be unable to launch SEQureDx in 2009, as originally planned. Further, the Company indicated that it would wait for results from independent clinical trials before launching the test, rather than relying on its own research. Upon the release of this news, shares of the Company's stock fell an astounding $11.29 per share, or 75.72 percent, to close on April 30, 2009 at $3.62 per share, on unusually heavy trading volume.

Plaintiff seeks to recover damages on behalf of class members and is represented by the law firm of Barroway Topaz Kessler Meltzer & Check which prosecutes class actions in both state and federal courts throughout the country. Barroway Topaz Kessler Meltzer & Check is a driving force behind corporate governance reform, and has recovered billions of dollars on behalf of institutional and individual investors from the United States and around the world.

For more information about Barroway Topaz Kessler Meltzer & Check, or for additional information about participating in this action, please visit www.btkmc.com.

If you are a member of the class described above, you may, not later than June 30, 2009, move the Court to serve as lead plaintiff of the class, if you so choose. A lead plaintiff is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the Court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. Any member of the purported class may move the court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

    CONTACT:      Barroway Topaz Kessler Meltzer & Check, LLP
                  Darren J. Check, Esq.
                  David M. Promisloff, Esq.
                  280 King of Prussia Road
                  Radnor, PA 19087
                  1-888-299-7706 (toll free) or 1-610-667-7706
                  Or by e-mail at info@btkmc.com


'/>"/>
SOURCE Barroway Topaz Kessler Meltzer & Check, LLP
Copyright©2009 PR Newswire.
All rights reserved

Related medicine news :

1. Quest Diagnostics Announces Annual Shareholders Meeting Webcast
2. Cell Therapeutics Reports 76% Decrease in First Quarter 2009 Net Loss Attributable to Common Shareholders; Completion of Pixantrone NDA Submission on Track for Second Quarter 2009
3. Abbey Spanier Rodd & Abrams, LLP, Announces Class Action Lawsuit on Behalf of Sequenom, Incorporated Shareholders
4. Shareholders Challenge Danaher/Kerr to Phase Out Mercury Tooth Fillings
5. Amylin Sends Letter to Shareholders
6. Baxter International Shareholders Meeting
7. Anchor Capital Calls on BioScrip Board to Pursue Cost Reductions While Exploring Strategic Sale to Unlock Shareholder Value
8. Tennenbaum Encourages Shareholders to Vote the Blue Proxy for Tennenbaum Director Nominees at Online Resources Annual Meeting as Recommended by Riskmetrics/ISS and Proxy Governance
9. 2009 Annual Meeting of Shareholders
10. Johnson & Johnson to Webcast Annual Meeting of Shareholders
11. Tianyin Pharmaceutical Co., Inc. Series A Preferred Shareholders Approved Cash Dividend to Common Stockholders
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/23/2017)... ... June 23, 2017 , ... PureLife Dental is pleased ... separator supplier for CDA members. As part of the amalgam separator endorsement, all CDA ... saving more than $400 off the retail value. This partnership between PureLife and CDA ...
(Date:6/23/2017)... ... 2017 , ... Ulster University, Magee Campus in Northern Ireland is hosting The ... to present to graduate students exciting new and innovative hope research based on iFred’s ... The Health Improvement Service of the Western Health & Social Care Trust (WHSCT) in ...
(Date:6/23/2017)... ... June 23, 2017 , ... All-Star Insurance, a family managed agency that offers ... Texas, is announcing the launch of a new charity drive to benefit women in ... United States reveal that an estimated 252, 710 new cases of invasive or high ...
(Date:6/22/2017)... ... ... Branches, Inc. has been partnering with The Miami Foundation for over 9 ... focused on providing opportunity to low-income families and breaking the cycle of generational poverty. ... to support its , Climb to College & Career initiative which focuses on postsecondary ...
(Date:6/22/2017)... ... June 22, 2017 , ... Groove Ring is excited ... about their high performance silicon wedding bands and all-purpose rings. Whether you’re an athlete, ... silicone rings designed just for you. , From the rock face to the auto ...
Breaking Medicine News(10 mins):
(Date:6/2/2017)... , June 2, 2017  NxStage Medical, Inc. (Nasdaq:  NXTM), a ... today announced new findings demonstrating positive biochemical outcomes related ... System One™. The data will be presented at the ... Madrid, Spain . The ... Home Dialysis Network in Europe ...
(Date:5/29/2017)... Israel, May 29, 2017  Cellect Biotechnology Ltd. (NASDAQ: ... technology which enables the functional selection of stem cells, ... for the first quarter ended March 31 st , ... our accomplishments in the first quarter of 2017," said ... quarter, we announced the treatment of the first blood ...
(Date:5/22/2017)... VALLEY COTTAGE, N.Y. , May 22, 2017 ... natural antiviral treatment Gene-Eden-VIR/Novirin, announces the launch of ... in plain English, the results of a clinical ... after one year treatment with Gene-Eden-VIR/Novirin in individuals ... is important to note that there are no ...
Breaking Medicine Technology: