Illumina to Pay $13.9 Million to Resolve Securities Class Action

Illumina Inc.'s $13.9 million settlement to resolve a securities class action claiming that the biotech company misled investors about its revenue and sales for the third quarter of 2016 has received the U.S. District Court for the Southern District of California’s final approval.

The settlement class approved by Judge M. James Lorenz on Wednesday comprises “all persons or entities who purchased or otherwise acquired a legal or beneficial ownership interest in Illumina’s common stock between July 26, 2016 through October 10, 2016, inclusive.”

The settlement represents only 4.5% of the approximately $300 million in potentially recoverable damages. But plaintiffs faced ...