New York’s public pensions have joined widening shareholder litigation over the costly consequences of
State Comptroller Thomas DiNapoli is suing Illumina board members on behalf of two retirement funds, saying they recklessly rushed into the doomed deal with full knowledge they were violating a European regulation requiring companies to pause mergers while they’re reviewed on antitrust grounds.
The move “ignited legal chaos,” the lawsuit says, pointing to hundreds of millions in fines, billions in lost value, the June 2023 resignation of Illumina ...
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