"Pacific Biosciences shareholders who purchased common stock between October 27, 2010 and September 20, 2011, may contact Gilman Law to discuss their rights."
Naples, FL (PRWEB) December 29, 2011
Gilman Law LLP, a leading national securities law firm, is actively investigating shareholder allegations that Pacific Biosciences of California, Inc. (“PacBio” or the “Company”) and certain of its officers and directors knowingly, or with severe recklessness, made materially misleading statements and/or failed to disclose information necessary to make various statements not materially misleading in violation of the Securities Exchange Act of 1934.
For over 30 years, the lawyers at Gilman Law have been involved in all major aspects of securities fraud litigation. The firm specializes in cases involving stock manipulation, securities fraud, and shareholder rights violations. If you purchased or otherwise acquired the common stock of PacBio between October 27, 2010 and September 20, 2011, inclusive (the “Class Period”), you may contact Gilman Law LLP by February 26, 2012 to discuss your rights, including as to recovery of your losses or to obtain additional information.
Based in Menlo Park, California, PacBio is a development stage company that develops, manufactures and markets an integrated platform for genetic analysis. The Company engages in commercializing a platform, single molecule, real-time technology (SMRT) for the detection of biological events.
The PacBio shareholder class action lawsuit filed in the United States District Court for the Northern District of California alleges that during the Class Period, the Company materially misled the investing public by failing to disclose material adverse facts regarding the Company’s overall operational and financial condition that were caused by significant problems with its third generation human genome sequencing technology. The Complaint further alleges that as a result of these materially false and misleading statements, PacBio’s common stock traded at artificially-inflated prices during the Class Period. Shareholders allege that when the truth concerning the Company’s business prospects, and specifically its revenue projections, were finally revealed on September 20, 2011, the price of PacBio common stock drastically fell 24%. dockets.justia.com/docket/california/candce/4:2011cv06599/249492/ Case No. 11-cv-06599.
A "lead plaintiff" is a representative party that acts on behalf of other class members in directing the litigation. In order to be appointed lead plaintiff, the court must determine that the class member's claim is typical of the claims of other class members, and that the class member will adequately represent the class. Under certain circumstances, one or more class members may together serve as lead plaintiff. Your ability to share in any recovery is not, however, affected by the decision whether or not to serve as a lead plaintiff. You may retain Gilman and Pastor LLP to serve as your counsel in this action.
If you wish to join the PacBio class action lawsuit filed in the U.S. District Court for the Northern District of California, please visit http://www.investment-losses.com or contact Gilman Law LLP at (888) 252-0048.
For over 30 years, the lawyers at Gilman Law have extensive experience representing both individual and institutional investors in securities have been involved in all major aspects of securities fraud litigation. The firm specializes in cases involving stock manipulation, securities fraud, and shareholder rights violations. Gilman Law is ready to assist investors nationwide who have sustained losses as a result of PacBio’s alleged fraud. For more information on the PacBio’s Investor Class action lawsuit or our other current investigations, please visit http://www.gilmanlawllp.com or http://gilmanlawsecuritiesstocksbondsfraud.com. For a free evaluation of your case, please contact Gilman Law TOLL FREE at (888) 252-0048.
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