Sequenom, Inc. (NASDAQ:SQNM) hit by Investor class action lawsuit

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) April 30, 2009 -- On Thursday, April 30, 2009, an angry investor filed a proposed securities class action lawsuit, who purchased Sequenom, Inc. (NASDAQ:SQNM) shares between June 04, 2008 and April 28, 2009 , in the U.S. District Court for the Southern District of California in San Diego against Sequenom, Inc and certain officers and directors over alleged violations of Federal Securities Law.

Those who purchased Sequenom, Inc. (NASDAQ:SQNM) shares between June 04, 2008 and April 28, 2009 have certain options and should contact the Shareholders Foundation. There are strict and short deadlines running. (Deadline: June 29, 2009)

Email: mail@shareholdersfoundation.com

Or

call us at: +1 (858) 779 - 1554

According to the complaint the plaintiff alleges that Sequenom, Inc and certain of its officers and directors violated Federal Securities Laws by issuing material false and misleading public statements between June 04, 2008 and April 28, 2009 concerning its business, operations and prospects and failed to properly disclose that Sequenom employees mishandled test data and results regarding the Down syndrome test. Sequenom, Inc recently announced that multiple prior press releases and public statements concerning SEQureDx TM can no longer be relied upon, including press releases issued by Sequenom, Inc on June 4, 2008, September 23, 2008, December 1, 2008, January 28, 2009, and February 3, 2009. Specifically, so the lawsuit, on June 04, 2008 Sequenom, Inc announced the results of Screening Studies for Down Syndrome. Sequenom shares (SQNM) rose from $7.66 before the announcement to $9.33 per share on June 04, 2008 and inclined within one month to $14.17 per share on June 23, 2008, the day Sequenom, Inc launched its second public offering of common stock. Shares of Sequenom, Inc continued to rise to $21.90 per share on July 15, 2008. Over the course of the period Sequenom shares reached $27.76 per share on September 24, 2009 close before the financial crisis hit the market. Shares of Sequenom withstood the exposure of the financial crisis and recovered in January 2009 from $12.71 in November 2008 to $25.54 per share, but continued to decrease to a closing price of $14.91 per share on Wednesday, April 29, 2009. Then, so the lawsuit, when Sequenom announced on Wednesday that “the company is no longer relying on the previously announced R&D test data and results” and its SEQureDx test for Down syndrome will be delayed for an unknown period of time because of employee “mishandling” of test data, the shares of Sequenom, Inc. (NASDAQ:SQNM) went in a freefall to $4.76 in after-hours trading or a loss of 68% percent. Shares of Sequenom, Inc. (NASDAQ:SQNM) continued to fall on Thursday to $3.41 per share.

Those who purchased Sequenom, Inc. (NASDAQ:SQNM) shares between June 04, 2008 and April 28, 2009 have certain options and should contact the Shareholders Foundation. There are strict and short deadlines running. (Deadline: June 29, 2009)

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