NEW YORK (GenomeWeb News) – Pacific Biosciences is closing in on a settlement over a class action lawsuit related to its initial public offering, the company has confirmed to GenomeWeb Daily News.

On October 25, a hearing will be held in Superior Court of California, County of San Mateo before Judge Marie Weiner to determine whether a settlement between PacBio and plaintiffs will be approved. The amount of the settlement is for "at least" approximately $7.7 million, the plaintiffs' lawyers said in a notice about the court hearing.

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