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Home » Business, Policy & Funding » Business News » Class Action Lawsuit Filed Against Pacific Biosciences

Class Action Lawsuit Filed Against Pacific Biosciences

Dec 29, 2011

NEW YORK (GenomeWeb News) – A class action lawsuit has been filed against Pacific Biosciences alleging the next-generation sequencing technology firm failed to disclose materially important information, which resulted in the artificial inflation of its stock price.

In a lawsuit filed in US District Court for the Northern District of California, the plaintiff Thomas Primo alleges PacBio hid problems related to its third-generation sequencing technology, which rendered statements made by the company about its finances and future outlook "materially false and misleading."

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