Subjects: ATY, FVT

Notice of Proposed Class Action Settlement Involving All Persons and Entities Who Purchased or Otherwise Acquired a Legal or Beneficial Ownership Interest in Illumina's Common Stock

SEATTLE, Jan. 22, 2020 /PRNewswire/ --

This notice affects all persons or entities who purchased or otherwise acquired a legal or beneficial ownership interest in Illumina's common stock between July 26, 2016 through October 10, 2016, inclusive (the "Class Period").

YOU ARE HEREBY NOTIFIED, pursuant to Rule 23 of the Federal Rules of Civil Procedure that a hearing will be held on April 20, 2020, at 10:30 a.m., before the Honorable M. James Lorenz, United States District Judge, at the Edward J. Schwartz Courthouse, 221 West Broadway, Courtroom 5B, San Diego, CA 92101, for the purpose of determining, among other things: (1) whether the proposed Settlement of the securities class action claims asserted in this Consolidated Action, pursuant to which Illumina, Inc., will cause Defendants' insurers to deposit $13,850,000.00 in cash into a Settlement Fund in exchange for the dismissal of the Consolidated Action with prejudice and a release of all Released Claims against Defendants and other Released Parties, should be approved by the Court as fair, reasonable, and adequate; (2) whether the Court should grant final certification of the Consolidated Action as a class action for settlement purposes and confirm the appointments of Class Representatives and Lead Counsel; (3) whether the Consolidated Action should be dismissed on the merits with prejudice as set forth in the Stipulation and Agreement of Settlement dated June 11, 2019 (the "Settlement" or "Stipulation"); (4) whether the Court should permanently enjoin the assertion of any claims that arise from or relate to the subject matter of the Consolidated Action; (5) whether the application for the payment of attorneys' fees and expenses to be submitted by Lead Counsel should be approved; (6) whether the Plan of Allocation is fair and reasonable to the members of the Settlement Class; and (7) whether any application for compensatory awards to be submitted by Plaintiffs should be approved. This notice incorporates by reference the definitions in the Stipulation and Settlement, and all capitalized terms used, but not defined herein, shall have the same meaning as in the Settlement. A copy of the Settlement can be obtained at www.IlluminaSecuritiesSettlement.com.

If you purchased or otherwise acquired a legal or beneficial interest in Illumina, Inc. common stock, from July 26, 2016 through October 10, 2016, inclusive, your rights may be affected by the settlement of this Consolidated Action and you may be entitled to share in the distribution of the Settlement Fund if you submit a Proof of Claim and Release Form postmarked or submitted online no later than April 27, 2020, and if the information and documentation you provide in that Proof of Claim and Release Form establishes that you are entitled to recovery.

This Summary Notice provides only a summary of matters regarding the Consolidated Action and the Settlement.  A detailed Notice of Pendency and Proposed Settlement of Class Action (the "Notice") describing the Consolidated Action, the proposed Settlement, and the rights of Settlement Class Members to appear in Court at the Final Approval Hearing, to request to be excluded from the Settlement Class, and/or to object to the Settlement, the Plan of Allocation and/or the request by Legal Counsel for an award of attorneys' fees and reimbursement of Litigation Expenses, has been mailed to persons or entities known to be potential Settlement Class Members.  If you have not received the Notice and a copy of the Proof of Claim and Release Form, you may obtain them free of charge by contacting the Claims Administrator, by mail at: Illumina, Inc. Securities Litigation, c/o JND Legal Administration, P.O. Box 91086, Seattle, WA 98111-9186.

As further described in the Notice, if you are a Settlement Class Member, you will be bound by any Judgment entered in the Consolidated Action, regardless of whether you submit a Proof of Claim and Release Form, unless you exclude yourself from the Class, in accordance with the procedures set forth in the Notice, postmarked no later than March 23, 2020. Any objections to the Settlement, Plan of Allocation, application for attorneys' fees and expenses, or applications for compensatory awards must be filed and served, in accordance with the procedures set forth in the Notice, postmarked no later than March 23, 2020.

Inquiries, other than requests for the Notice, may be made to Lead Counsel for the Class: Nicholas I. Porritt, Esq., Levi & Korsinsky, LLP, 1101 30th Street, N.W., Suite 115, Washington, D.C. 20007, [email protected].

INQUIRIES SHOULD NOT BE DIRECTED TO THE COURT, THE CLERK'S OFFICE, DEFENDANTS, OR DEFENDANTS' COUNSEL. 

If you have any questions about the Settlement, you may contact Lead Counsel at the address listed above. 

 

SOURCE JND Legal Administration

News published on 22 january 2020 at 09:17 and distributed by: