Fluidigm Corporation Class Action Lawsuit
- Company Name
- Fluidigm Corporation
- Stock Symbol
- Class Period
- February 7, 2019 to November 5, 2019
- Motion Deadline
- November 20, 2020
- Northern District of California
The Fluidigm Corporation class action lawsuit charges Fluidigm and certain of its officers with violations of the Securities Exchange Act of 1934 and seeks to represent purchasers or acquirers of Fluidigm securities between February 7, 2019 and November 5, 2019, inclusive (the “Class Period”). The Fluidigm class action lawsuit was commenced on September 21, 2020 in the Northern District of California and is captioned Saintjermain v. Fluidigm Corporation, No. 20-cv-06617.
Fluidigm manufactures and markets products and services that are used by researchers to study health and disease, identify biomarkers, and accelerate the development of therapies.
The Fluidigm class action lawsuit alleges that during the Class Period, defendants made false and/or misleading statements and/or failed to disclose that: (1) Fluidigm was experiencing longer sales cycles; (2) as a result, Fluidigm’s revenue was reasonably likely to decline; and (3) as a result of the foregoing, defendants’ positive statements about Fluidigm’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.
On August 1, 2019, Fluidigm reported second quarter 2019 revenue of $28.2 million, well below analysts’ expectations of $32 million, citing weakness in its microfluidics segment. On this news, Fluidigm’s share price fell nearly 34%.
Then, on November 5, 2019, Fluidigm reported that third quarter 2019 revenue had declined 8.5% year over year, primarily due to mass cytometry instrument sales. On this news, Fluidigm’s share price fell nearly 51%, further damaging investors.
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased Fluidigm securities during the Class Period to seek appointment as lead plaintiff in the Fluidigm class action lawsuit. A lead plaintiff will act on behalf of all other class members in directing the Fluidigm class action lawsuit. The lead plaintiff can select a law firm of its choice to litigate the Fluidigm class action lawsuit. An investor’s ability to share in any potential future recovery of the Fluidigm class action lawsuit is not dependent upon serving as lead plaintiff. If you wish to serve as lead plaintiff of the Fluidigm class action lawsuit or have questions concerning your rights regarding the Fluidigm class action lawsuit, please provide your information here or contact counsel, J.C. Sanchez of Robbins Geller, at 800/449-4900 or 619/231-1058 or via e-mail at email@example.com. Lead plaintiff motions for the Fluidigm class action lawsuit must be filed with the court no later than November 20, 2020.
Robbins Geller Rudman & Dowd LLP is one of the world’s leading law firms representing investors in securities class action litigation. With 200 lawyers in 9 offices, Robbins Geller has obtained many of the largest securities class action recoveries in history. For seven consecutive years, ISS Securities Class Action Services has ranked the Firm in its annual SCAS Top 50 Report as one of the top law firms in the world in both amount recovered for shareholders and total number of class action settlements. Robbins Geller attorneys have helped shape the securities laws and have recovered tens of billions of dollars on behalf of aggrieved victims. Beyond securing financial recoveries for defrauded investors, Robbins Geller also specializes in implementing corporate governance reforms, helping to improve the financial markets for investors worldwide. Robbins Geller attorneys are consistently recognized by courts, professional organizations and the media as leading lawyers in the industry.