Pacific Bioscience of California, Inc PACB Securities Stock Fraud

Company:	Pacific Bioscience of California, Inc
Ticker Symbol:	PACB
Class Period:	Oct-27-10 to Sep-20-11
Date Filed:	Dec-28-11
Lead Plaintiff Deadline:	Feb-26-12
Court:	Northern District of California
Allegations:

Naples, FL: A securities class action lawsuit has been filed against Pacific Bioscience of California, Inc ("PacBio"or the "Company") and certain of its officers and directors on behalf of anyone who purchased or otherwise acquired the common stock of PacBio between October 27, 2010 and September 20, 2011, inclusive (the "Class Period"), alleging that PacBio knowingly, or with severe recklessness, made materially misleading statements and/or failed to disclose information necessary to make various statements not materially misleading in violation of the Securities Exchange Act of 1934.

The PacBio shareholder class action lawsuit, filed in the United States District Court for the Northern District of California, alleges that during the Class Period, the Company materially misled the investing public by failing to disclose material adverse facts regarding the Company' overall operational and financial condition that were caused by significant problems with its third generation human genome sequencing technology.

The Complaint further alleges that as a result of these materially false and misleading statements, PacBio' common stock traded at artificially-inflated prices during the Class Period. Shareholders allege that when the truth concerning the Company' business prospects, and specifically its revenue projections, were finally revealed on September 20, 2011, the price of PacBio common stock drastically fell 24%.

If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.

Pacific Bioscience of California, Inc PACB Securities Fraud Legal Help

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Published on Dec-30-11