SOURCE: Dyer & Berens LLP

 
May 13, 2009 15:27 ET

Dyer & Berens LLP Files Class Action Lawsuit on Behalf of Investors Who Purchased Sequenom, Inc. Common Stock Between June 4, 2008 and April 29, 2009; Announces Upcoming Investor Deadline -- SQNM

DENVER, CO--(Marketwire - May 13, 2009) - Dyer & Berens LLP (www.DyerBerens.com) today announced that it has filed a class action lawsuit in the United States District Court for the Southern District of California on behalf of investors of Sequenom, Inc. ("Sequenom" or the "Company") (NASDAQ: SQNM) who purchased the Company's common stock between June 4, 2008 and April 29, 2009 (the "Class Period"). The complaint charges Sequenom and certain of its officers and directors with violations of the federal securities laws.

If you wish to serve as a lead plaintiff, you must move the court no later than June 30, 2009. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact plaintiff's counsel, Jeffrey A. Berens, Esq. at (888) 300-3362, (303) 861-1764, or via email at jeff@dyerberens.com. Any member of the putative class may move the court to serve as a lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member.

The complaint alleges that, during the Class Period, defendants issued false and misleading statements regarding the Company's Down syndrome test under development. Specifically, defendants failed to disclose that Sequenom employees mishandled test data and results regarding the Down syndrome test. On April 29, 2009, after the market closed, the Company issued a press release announcing that the expected launch of its Down syndrome test would be delayed due to the discovery by Company officials of employee mishandling of research and development test data and results. As a result, the Company could no longer rely on the previously announced test data and results. On this news, Sequenom's stock collapsed over $11 per share to as low as $3.23 per share, a one-day decline of more than 75%.

Plaintiff seeks to recover damages on behalf of Sequenom investors. The plaintiff is represented by Dyer & Berens LLP, which has expertise in prosecuting investor class actions involving financial fraud. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors. For more information about the firm, please go to www.DyerBerens.com.

Contact:
Jeffrey A. Berens
Dyer & Berens LLP
682 Grant Street
Denver, CO 80203
Tel: (888) 300-3362 or (303) 861-1764
Email: Email Contact