Icahn Loses Illumina Ruling on Information Director Shared (1)

Billionaire investor Carl Icahn has been ordered to remove confidential information from a lawsuit he filed against Illumina Inc. over its failed $7 billion acquisition of Grail Inc., a setback in his continuing battle with the the DNA-sequencing company.

Delaware Chancery Court Judge Paul Fioravanti on Tuesday concluded that an Illumina director whom Icahn got named to the board in a proxy fight improperly supplied him with information about the buyout of Grail, which makes cancer detection products. The judge told Icahn he couldn’t use the material to bolster his suit.

Carl Icahn

Photographer: Victor J. Blue/Bloomberg

The ruling comes a month after Illumina ...