LOS ANGELES, May 5, 2009 LawFuel.com — Faruqi & Faruqi, LLP, a
law firm with extensive experience in prosecuting claims for securities
fraud, has filed a lawsuit on behalf of a class of shareholders who
purchased or otherwise acquired the securities of Sequenom, Inc.
(“Sequenom” or the “Company”) (Nasdaq:SQNM). The complaint seeks
remedies under the federal securities laws against Sequenom and certain
of its executive officers and was filed in the United States District
Court for the Southern District of California. A copy of the complaint
filed in this action can be viewed on the firm’s website at
www.faruqilaw.com
If you purchased or acquired Sequenom securities during the period June
4, 2008, through April 29, 2009, inclusive (the “Class Period”), the
deadline to move for appointment as Lead Plaintiff is June 30, 2009. In
order to serve as Lead Plaintiff, you must meet certain legal
requirements. While your ability to share in any recovery is not
affected by your decision of whether or not to seek appointment as a
Lead Plaintiff, the Lead Plaintiff is responsible for making important
decisions which could affect the overall recovery for class members,
including decisions concerning settlement.
The complaint alleges that after months of touting the Company’s
accomplishments, on April 29, 2009, Sequenom issued a press release
stating that its employees mishandled R&D test data for SEQureDx, which
was being developed as a non-invasive prenatal test for Down syndrome.
Sequenom also disclosed that the commercial launch of SEQureDx would be
delayed and that: (1) the Company suspended four employees; (2) the
Company formed a special committee of independent directors to oversee
an independent investigation of the employees’ activity related to the
test data and results; (3) the committee engaged independent counsel to
assist the committee in the conduct of the investigation; (4) the
Company’s previous press releases and public SEC filings concerning
SEQureDx could no longer be relied upon; and (5) due to these
developments, the Company is now reviewing the test results for all its
products, not just SEQureDx. On this news, and after trading as high as
$29.14 per share during the Class Period, the price of Sequenom common
stock plummeted from its previous closing price of $14.91, to $3.62, a
loss of over $11.00 per share.
If you: (i) wish to discuss this action or have information concerning
this case; (ii) have questions concerning this Notice or your rights or
interests with respect to this litigation; or (iii) have any other
matters that you would care to discuss, please contact Vahn Alexander
of Faruqi & Faruqi, LLP, 1901 Avenue of the Stars, Second Floor, Los
Angeles, CA 90067, by telephone at (310) 461-1426, or by email to
valexander@faruqilaw.com. There will be no obligation or cost to you
concerning your inquiry. For more information about this action, the
firm or cases currently being investigated or prosecuted by the firm,
please visit www.faruqilaw.com.
