Everything You Need to Know About the Illumina Class Action Lawsuit

If you suffered losses in Illumina stock, contact Illumina stock loss lawyer Timothy L. Miles about an Illumina class action lawsuit

INTRODUCTION TO THE Illumina Class Action Lawsuit

The Illumina Class Action Lawsuit has garnered significant attention in since its recent filing. It seeks to represent purchasers or acquirers of Illumina, Inc. securities between May 1, 2023, and October 16, 2023 (the "Class Period"). The lawsuit alleges violations of the Securities Exchange Act of 1934 by Illumina and certain former top executive officers. If you have suffered losses in Illumina stock and wish to be part of the Illumina Class Action Lawsuit, it is important to understand the lead plaintiff process, the benefits of serving as lead plaintiff, and other relevant details. In this comprehensive guide, we will delve into all the essential aspects of the Illumina Class Action Lawsuit.

Allegations in the Illumina Class Action Lawsuit

​Illumina is a genetic and genomic analysis company with a portfolio of integrated sequencing and microarray systems, consumables, and analysis tools designed to accelerate and simplify genetic analysis.  According to the Illumina Class Action Lawsuit, in September 2020, Illumina announced plans to reacquire developer of blood-based cancer detection tests, GRAIL, Inc. and the acquisition was completed on August 18, 2022 over the objection of the European Union’s European commission.  Carl C. Icahn was the beneficial owner of approximately 1.4% of the outstanding shares of Illumina, the complaint alleges.

The Illumina Class Action Lawsuit alleges that defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (i) certain of Illumina’s insiders had personal financial motives for acquiring GRAIL; and (ii) contrary to Illumina’s attempts to discount Icahn’s criticism, Icahn had accurately concluded that insiders’ interests did not align with Illumina’s best interests.

The Illumina Class Action Lawsuit further alleges that on August 10, 2023, Illumina revealed that the U.S. Securities and Exchange Commission was investigating Illumina’s statements regarding GRAIL, including “conduct and compensation of certain members of Illumina and GRAIL management.”  The Illumina Class Action Lawsuit alleges that on this news, the price of Illumina stock fell.

​The Illumina Class Action Lawsuit also alleges that on October 17, 2023, Icahn filed a complaint against current and former directors of Illumina, alleging direct and derivative claims of breaches of fiduciary duty.  According to Reuters, Icahn “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],” the complaint alleges.  The Illumina Class Action Lawsuit alleges that on this news, the price of Illumina stock fell more than 5%.

The Lead Plaintiff Process in the Illumina Class Action Lawsuit

The lead plaintiff plays a crucial role in a securities class action lawsuit such as the Illumina Class Action Lawsuit. If you suffered losses in Illumina stock and wish to be the lead plaintiff, it is important to understand the process. The lead plaintiff is responsible for representing the interests of the entire class and has the authority to negotiate attorney fees and reduce litigation costs. It is essential to file a lead plaintiff motion with the court by the specified deadline, which, in the case of the Illumina class action lawsuit, is January 9, 2024. To initiate the lead plaintiff process, you can contact Illumina Stock Loss Lawyer Timothy L. Miles by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form.

Can a Non-U.S. Investor Serve as Lead Plaintiff in the Illumina Class Action Lawsuit?

Non-U.S. investors who suffered losses in Illumina stock may wonder if they can serve as lead plaintiff in the Illumina Class Action Lawsuit. The answer is yes. There are no restrictions on non-U.S. investors serving as lead plaintiffs. If you are a non-U.S. investor who suffered significant losses in Illumina stock during the Class Period, you have the opportunity to be appointed as the lead plaintiff in the Illumina Class Action Lawsuit.

The Benefits of Serving as Lead Plaintiff in the Illumina Class Action Lawsuit

​Serving as lead plaintiff in the Illumina Class Action Lawsuit has several advantages and benefits. Here are some of the key benefits:

1. Competitive attorney fees: As lead plaintiff, you have the opportunity to negotiate more competitive attorney fees, ensuring that the interests of the class are protected while minimizing litigation costs.
2. Active involvement in the litigation: As lead plaintiff, you have the benefit of actively overseeing and monitoring the progress of the lawsuit. You can review and provide input on important filings and other documents related to the prosecution of the case.
3. No financial risk: Serving as lead plaintiff does not involve any financial risk. Lead counsel advances all costs and expenses incurred in the prosecution of the case, and reimbursement is contingent upon a successful settlement or judgment recovery on behalf of the class.
4. Active participation in negotiations: Lead plaintiffs have the opportunity to be involved and active in all negotiations relating to any potential settlement.
5. Long-term benefits: Lead plaintiffs who continue to own the stock of the defendant can enjoy the long-term benefits resulting from governance reform resulting from the litigation.

Overall, serving as lead plaintiff in the Illumina Class Action Lawsuit can provide you with numerous benefits and advantages. If you have suffered significant losses in Illumina stock, it is worth considering serving as lead plaintiff to protect your rights and potentially recover your losses.

Can I Be Appointed Lead Plaintiff in the Illumina Class Action Lawsuit if I Purchased Shares Outside of the Class Period?

To be appointed as lead plaintiff in the Illumina Class Action Lawsuit, it is necessary to have purchased shares during the Class Period. The Class Period refers to a specific timeframe during which the price of the company's stock was allegedly artificially inflated due to false and misleading statements. If you purchased Illumina shares outside of the Class Period, you cannot participate in the Illumina Class Action Lawsuit.

Will the Lead Plaintiffs Get More Money than Class Members if the Illumina Class Action Lawsuit Settles?

Lead plaintiffs in a class action lawsuit do not receive more money than other class members if a settlement is reached. According to the Private Securities Litigation Reform Act of 1995, a lead plaintiff is entitled to their pro rata share of any recovery, just like other class members. Lead plaintiffs do not receive any additional compensation for serving as a representative party on behalf of the class. However, a court may, at its discretion, approve an award of reasonable costs and expenses directly related to the representation of the class in the Illumina Class Action Lawsuit.

Can I Be Lead Plaintiff in the Illumina Class Action Lawsuit if I am Lead Plaintiff in Another Case?

It is possible to be lead plaintiff in multiple securities class actions, as long as you have not been lead plaintiff in more than five such cases during any three-year period. If you have suffered losses in Illumina stock and have already been lead plaintiff in another case, you can still move to be appointed as lead plaintiff in the Illumina Class Action Lawsuit.

Can the Court Appoint More than One Lead Plaintiff in the Illumina Class Action Lawsuit?

In certain circumstances, the court may appoint more than one lead plaintiff in a class action lawsuit. This can occur if multiple individuals or entities meet the criteria for being lead plaintiff and have similar claims. The court will evaluate the qualifications of each potential lead plaintiff and determine whether appointing multiple lead plaintiffs is appropriate for the Illumina Class Action Lawsuit.

How Was the Class Period Determined in the Illumina Class Action Lawsuit?

The Class Period in the Illumina Class Action Lawsuit was determined based on the alleged period during which Illumina's stock price was artificially inflated due to false and misleading statements made by the company. The Class Period for the Illumina class action lawsuit spans from May 1, 2023, to October 16, 2023. To be included in the class action against Illumina, it is necessary to have suffered losses in Illumina stock by purchasing during this Class Period.

How Can an Illumina Stock Loss Lawyer Help Me if I Suffered Losses in Illumina Stock?

​​​​​An Illumina stock loss Lawyer is well-versed in the complex laws that govern the securities industry and litigation and focuses on representing individual investors or funds who have been the victims of fraud or who have disputes with investment professionals such as the Illumina Class Action Lawsuit. Ordinary individual investors, including civil servants, teachers, nurses, and retirees, may need a securities lawyer. In most cases, they have lost money due to mistakes, incompetence, or fraud by an investment professional.

While FINRA, the SEC, and state securities regulators serve a vital role in protecting investors, they simply have too many individuals, firms, and market transactions to monitor to discover every act of fraud or negligence. Individual investors should consult with a securities lawyer if they have lost money due to fraud or stockbroker misconduct. 

Look for a securities lawyer with experience, high ethical standards, verifiable credentials, and a trustworthy reputation among his peers and the judiciary, as well as testimonials from previous clients and awards and recognitions.

One name that immediately pops up is nationally known and widely respected Nashville lawyer Timothy L. Miles, who has valuable experience and has received numerous awards, mostly due to his high ethical standards, and hard work ethic, including most recently being named a Top 25 Class action lawyer by the National Trial Lawyers Association, and has maintained an AV rating from Martindale-Hubble since 2014, was named a 2023 Top Rated Litigator and 2023 Top Rated Lawyer by Martindale-Hubble and ALM, and was recently named a 2023 Elite Lawyer of the South by Martindale-Hubble for the fifth year in a row, and was a recipient of Avvo Client’s Choice Award in 2021, in 2022 was featured in the Top 100 Lawyers Magazine and received the Lifetime Achievement Award by Premier Lawyers of America (2019–2021).

​This will most likely be the only call you need to make. (855) 846–6529 or [email protected]. 

How Do I Know if I am a Member of the Class in the Illumina Class Action Lawsuit?

If you purchased Illumina shares during the Class Period (May 1, 2023, to October 16, 2023) and suffered losses, you are likely a member of the class in the Illumina Class Action Lawsuit. Being a member of the class means that you have the right to participate in the lawsuit and potentially receive a share of any settlement or recovery. If you meet these criteria, it is important to stay informed about the progress of the lawsuit and to consider your options for seeking compensation.

How Much Can I Get Out of the Illumina Class Action Lawsuit if I Suffered Losses in Illumina Stock?

​The amount you can potentially receive from the Illumina Class Action Lawsuit depends on several factors, including the extent of your losses and the overall settlement or judgment in the case. In securities fraud class action lawsuits, damages are typically calculated based on out-of-pocket losses. This is determined by calculating the difference between the price at which the stock was sold and the price it would have been sold at if the alleged misrepresentations or omissions had not artificially inflated the stock price.

To obtain a more accurate assessment of your potential recovery, it is advisable to consult with an Illumina stock loss lawyer. They can evaluate your specific circumstances and provide you with a better understanding of the potential compensation you may be entitled to.

When Can I Expect to Receive My Payment if the Illumina Class Action Lawsuit Settles?

If a settlement is reached in the Illumina Class Action Lawsuit, the court will issue a Notice to all class members, providing information about the settlement and the steps to follow to file a claim. The Notice will include a date for a final hearing to determine the approval of the settlement. Once the settlement is approved, and there are no objections or appeals, settlement payments will be disbursed to the participating class members within a few months. However, if there are objections or appeals, the resolution process may take longer, potentially more than a year to resolve the Illumina Class Action Lawsuit.

What Are My Options as a Class Member if I Believe the Settlement in the Illumina Lawsuit is Unfair?

If you receive a notice regarding the settlement in the Illumina Class Action Lawsuit and believe that it is unfair, you have the opportunity to object to the settlement. You can object to any part of the settlement, and the court will consider all timely filed objections. The notice will specify the deadline for filing objections and provide instructions on where to send them. Additionally, the notice will include information about the final hearing, giving you the option to appear and be heard by the court.

How Much Does it Cost to Hire an Illumina Stock Loss Lawyer if I Suffered Losses in Illumina Stock?

If you suffered losses in Illumina stock and are a member of the class in the Illumina Class Action Lawsuit, hiring an Illumina stock loss lawyer should not cost you anything upfront. Most securities fraud lawyers handle cases on a contingency fee basis. This means that you do not pay attorneys' fees or court costs unless there is a recovery, and the fees and costs are awarded by the court as a percentage of the total recovery for the class. Therefore, you can seek legal representation without worrying about upfront costs.

Contact an Illumina Stock Loss Lawyer Today if You Suffered Losses in Illumina Stock

 If you suffered losses in Illumina stock during the Class Period, it is crucial to take action to protect your rights and potentially recover your losses. Contacting an Illumina stock loss lawyer can provide you with the necessary expertise and guidance to navigate the complexities of the class action lawsuit. Illumina stock loss lawyers are skilled advocates who fight for the rights of investors affected by fraudulent practices.
​
To discuss your case and explore your legal options, reach out to Illumina stock loss lawyer Timothy L. Miles today. You can contact him by calling 855/846-6529 or via e-mail at [email protected] or by submitting a contact form on our website. ​This will most likely be the only call you need to make. (855) 846–6529 or [email protected]. 

​Take the first step towards seeking justice and recovering your losses by consulting with an experienced Illumina stock loss lawyer.

CONTACT                                                      
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529
Email: ​[email protected]

Illumina stock loss lawyer Timothy L. Miles

Nashville attorney Timothy L. Miles is a nationally recognized shareholder rights attorney raised in Nashville, Tennessee. Mr. Miles has dedicated his career to representing shareholders, employees, and consumers in complex class-action litigation. Whether serving as lead, co-lead, or liaison counsel, Mr. Miles has helped recover hundreds of millions of dollars for defrauded investors, shaped precedent-setting decisions, and delivered real corporate governance reforms. Judges and peers have repeatedly recognized Mr. Miles relentless advocacy for the underdog, as well as his unbendable ethical standards. Mr. Miles was recently selected by Martindale-Hubbell® and ALM as a 2022 Top Ranked Lawyer, 2022 Top Rated Litigator, and a 2022 Elite Lawyer of the South. Mr. Miles also maintains the AV Preeminent Rating by Martindale-Hubbell®, their highest rating for both legal ability and ethics. Mr. Miles is a member of the prestigious Top 100 Civil Plaintiff Trial Lawyers: The National Trial Lawyers Association, Class Action:  Class Action: Top 100 National Trial Lawyers, National Trial Lawyers Association (2023), a superb rated attorney by Avvo, a recipient of the Lifetime Achievement Award by Premier Lawyers of America (2019) and recognized as a Distinguished Lawyer, Recognizing Excellence in Securities Law, by Lawyers of Distinction (2019); a Top Rated Litigator by Martindale-Hubbell® and ALM  (2019-2022); America's Most Honored Lawyers 2020; Top 1% by America's Most Honored (2020-2022).  Mr. Miles has published over three hundred articles on various issues of the law, including class actions, whistleblower cases, products liability, civil procedure, derivative actions, corporate takeover litigation, corporate formation, mass torts, dangerous drugs, and more.  Please visit our website or Resources center and call for free anytime.

CONTACT                                                      
The Law Offices of Timothy L. Miles
Tapestry at Brentwood Town Center
300 Centerview Dr., #247
Brentwood, TN 37027
Phone: (855) 846-6529