Sequenom, Inc. (NASDAQ:SQNM) Investor Investigation

PRLog (Press Release) - Apr 30, 2009 -
An investigation on behalf of investors in Sequenom, Inc. (Public, NASDAQ:SQNM), who purchased shares of Sequenom, Inc. (NASDAQ:SQNM) between June 04, 2008 and April 28, 2009, over possible violations of Federal Securities Law by Sequenom has been announced.

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!

Email: mail@shareholdersfoundation.com

Or

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

According to the investigation by a law firm Sequenom, Inc and certain of its officers and directors violated Federal Securities Laws by issuing between June 04, 2008 and April 28, 2009 material false and misleading public statements concerning its business, operations and prospects. Sequenom, a leader in genetic analysis products, is developing diagnostic products to improve the healthcare of women. Sequenom, Inc recent announcement states 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. On June 04, 2008 Sequenom, Inc announced the results of Screening Studies for Down Syndrome. SQNM shares 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 Jun e23, 2008, the day Sequenom, Inc launched its second public offering of common stock. Shares continue to rise to $21.90 per share on July 15, 2009. Over the course of the period Sequenom 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 in January 2009, but continued to decrease to the closing price of $14.91 per share on Wednesday, April 29, 2009. Then so the investigation, Sequenom revealed to the public on Wednesday, April 29, 2009, 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, sending the shares of Sequenom, Inc. (NASDAQ:SQNM) in a freefall to $4.76 in after-hours trading or a loss of 68% percent. Sequenom self called the delay "a temporary setback" but said its technology is scientifically and technically sound.
Shares of Sequenom, Inc. (NASDAQ:SQNM) continued to fall on Thursday and traded around $3.86 per share.
Sequenom, Inc. (NASDAQ:SQNM)) is located in San Diego, California and had $41.00million in total revenue in 2007 and $47.15million in 2008.

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!

Email: mail@shareholdersfoundation.com

or

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

Shareholders Foundation, Inc.
Trevor Allen
3111 Camino Del Rio North - Suite 423 -
92108 San Diego
Tel:+1-(858)-779-1554
Fax:+1-(858)-605-5739
mail@shareholdersfoundation.com
www.ShareholdersFoundation.com
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