NEW YORK, Dec. 12, 2018 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that it has filed a class action
complaint in the United States District Court for the Northern District of California on behalf of holders of Pacific Biosciences
of California, Inc. (“PACB”) (NASDAQ: PACB) common stock in connection with the proposed acquisition of PACB by Illumina, Inc.
(“Illumina”), announced on November 1, 2018 (the “Complaint”). The Complaint, which alleges violations of the Securities Exchange
Act of 1934 against PACB and its Board of Directors (the “Board”), is captioned Wang v. Pacific Biosciences of California,
Inc., et al., Case No. 3:18-cv-07450-WHA (N.D. Cal.).
If you wish to serve as lead plaintiff, you must move the Court no later than February 9,
2019. A lead plaintiff is a representative party acting on behalf of other class members in directing the
litigation. Any member of the proposed class may move the Court to serve as lead plaintiff through counsel of their choice, or may
choose to do nothing and remain an absent class member.
On November 1, 2018, PACB entered into an agreement and plan of merger (the “Merger Agreement”) with Illumina.
Pursuant to the terms of the Merger Agreement, shareholders of PACB will receive $8.00 per share in cash upon the closing of the
acquisition (the “Proposed Transaction”).
Among other things, the Complaint alleges that, in an attempt to secure shareholder support for the Proposed
Transaction, defendants issue materially incomplete disclosures in a Proxy Statement (“Proxy”) filed with the United States
Securities and Exchange Commission (SEC) on December 5, 2018. The Complaint alleges that the Proxy omits material information with
respect to, among other things, PACB’s financial projections, the analyses performed by PACB’s financial advisor, and background of
the Proposed Transaction. The Complaint seeks injunctive and equitable relief and damages on behalf of holders of PACB common
stock.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests,
please contact plaintiff’s counsel, Gloria Kui Melwani, at Wolf Haldenstein Adler Freeman & Herz LLP, 270 Madison Avenue, New York,
New York 10016, by telephone at (212) 545-4600 or by e-mail at melwani@whafh.com.
Founded in 1888, Wolf Haldenstein has extensive experience in the prosecution of complex class actions in state
and federal trial and appellate courts across the country. The firm’s attorneys have expertise in various practice areas,
including securities litigation. Wolf Haldenstein’s reputation and expertise in class litigation has been repeatedly
recognized by the courts, which have appointed it to major positions in complex multi-district and consolidated litigations.
Contact:
Gloria Kui Melwani
Tel: (212) 545-4600
Email: melwani@whafh.com.