Investors sue Sequenom over false test data
May 5th, 2009From Reuters UK:
At least five class action investor lawsuits have been leveled against Sequenom Inc. after the company announced last week it was delaying the launch of its highly anticipated prenatal Down syndrome test because employees had “mishandled” test data. Shares fell nearly 80% at the announcement of the delay.
All five complaints allege that Sequenom inflated its share price by issuing materially false and misleading statements about the Down syndrome test.
Sequenom issued a statement on Monday that it intends to “vigorously defend against the claims,” but said the lawsuits “could have a material adverse effect on our business” if the company does not prevail in court.
See also report on Motley Fool — “The market may have overreacted.”
Earlier posts here.

