LOS ANGELES—Sequenom Inc., a San Diego-based biotechnology concern specializing in genetic analysis, announced Jan. 15 that it agreed to settle consolidated securities class action lawsuits filed after the company admitted to flawed protocols in the testing of a potential product (In re Sequenom Inc. Securities Litigation settlement motion entered 1/15/10).
The company said in a Jan. 15 statement that it agreed to settle 12 cases consolidated in U.S. District Court for the Southern District of California for $14 million in cash and the issuance of common stock.
The stock amounts to 9.95 percent of total outstanding shares, Sequenom said. ...
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