Investors Sue Illumina (ILMN) for Concealing Facts Concerning GRAIL Acquisition

Hagens Berman, National Trial Attorneys, Encourages ILMN Investors Who Suffered Substantial Losses to Contact Firm’s Attorneys

SAN FRANCISCO - Hagens Berman urges Illumina, Inc. (NASDAQ: ILMN) investors who suffered substantial losses to submit your losses now

Class Period: May 1, 2023 – Oct. 16, 2023

Lead Plaintiff Deadline: Jan. 9, 2024


Contact An Attorney Now: ILMN@hbsslaw.com844-916-0895

Illumina, Inc. (NASDAQ: ILMN) Securities Fraud Class Action:

The litigation focuses on Defendants’ statements and omissions about Illumina’s decision to reacquire GRAIL, a business Illumina spun off in Feb. 2017, and commentary about activist investor Carl Icahn’s publicly expressed concerns over the GRAIL deal.

Specifically, the complaint alleges that Illumina mispresented and omitted to disclose that: (1) certain of the company’s insiders had personal financial motives for re-acquiring GRAIL; and (2) contrary to the company’s attempts to discount Icahn’s criticisms, Icahn correctly concluded that insiders’ interests did not align with the company’s best interests.

Investors began to learn the truth on Aug. 10, 2023, when Illumina disclosed that the SEC was investigating Illumina’s statements about its GRAIL acquisition, including “the conduct and compensation of certain members of Illumina and GRAIL management[.]”

Then, on Oct. 17, 2023, Icahn filed a complaint under seal against current and former Illumina directors alleging claims for breach of fiduciary duty. While the complaint was filed under seal, Reuters reported that the lawsuit pertained to Illumina completing the GRAIL acquisition.

These events sent the price of Illumina shares significantly lower.

“We’re focused on investors’ losses and are investigating whether Illumina may have concealed insiders’ interests in the GRAIL reacquisition,” said Reed Kathrein, the Hagens Berman partner leading the investigation.

If you invested in Illumina and have substantial losses, or have knowledge that may assist the firm’s investigation, submit your losses now »

If you’d like more information and answers to frequently asked questions about the Illumina case and out investigation, read more »

Whistleblowers: Persons with non-public information regarding Illumina should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email

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About Hagens Berman
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