A settlement was reached with the defendants in the lawsuit filed on behalf of certain investors of Celera Corporation (NASDAQ: CRA) over alleged securities laws violations and a deadline to submit the settlement claim is upcoming on June 28, 2015 and NASDAQ: CRA investors should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 04/21/2015 -- A deadline is coming up on June 28, 2015 in the settlement reached in the securities class action lawsuit filed on behalf of investors who purchased shares of Celera Corporation (NASDAQ: CRA) between April 24, 2008 to July 22, 2009.
Investors who purchased a significant amount of shares of Celera Corporation (NASDAQ: CRA) between April 24, 2008 to July 22, 2009, have certain options and should contact the Shareholders Foundation by email at email@example.com or call +1(858) 779 - 1554.
The settlement proof of claim form or detailed settlement notice for the settlement in the Celera Corporation (NASDAQ: CRA) Investor Securities Class Action Lawsuit can be downloaded at: http://shareholdersfoundation.com/case/celera-corporation-nasdaq-cra-investor-securities-class-action-lawsuit-06142010
In order to submit a claim an investor has to submit the claim proof to the class action claim administrator in a timely manner. The deadline to submit the proof with the class administrator is June 28, 2015. The class action administrator for this case is Gilardi & Co LLC.
The lawsuit was originally filed in the U.S. District Court for the Northern District of California against Celera Corporation over alleged violations of Federal Securities Laws in connection with certain allegedly false and misleading statements made between April 24, 2008 and July 22, 2009. According to the complaint the plaintiff alleges that Celera Corporation and certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing between April 24, 2008 and July 22, 2009 false and misleading statements regarding its business and financial results, repeatedly assuring investors that Celera Corporation would be able to increase the amount of its Lab Services business that was under contract, thus making its ability to collect on its receivables more predictable and less costly and time consuming. Defendants further assured investors that Celera Corporation was adequately reserving for its bad debts. As a result of defendants' false statements, Celera Corporation stock traded at artificially inflated prices throughout the Class Period, trading as high as $16.23 per share in September 2008.
Then on July 22, 2009, Celera Corporation announced that its "second quarter 2009 revenues relative to the prior year quarter [were] expected to show a reduction for Celera Corporation's Lab Services business." According to Celera Corporation, the Lab Services revenues were "adversely affected by lower than anticipated sample volume due to broad economic pressures, lost business as a result of the Company's efforts to collect aged receivables, and the denial of reimbursement on a number of legacy . . . tests by certain payors in some regions." In addition, Celera Corporation expected to record "significant charges in the second quarter of 2009 for bad debt expense and impairment of goodwill and intangible assets." On this news, so the complaint, Celera Corp's stock declined $1.91 per share to close at $5.83 per share on July 23, 2009, a one-day decline of nearly 25%. Shares of Celera Corporation (NASDAQ: CRA) traded recently $6.95 per share, down from its 52 week High of $8.38 per share, and $16.15 per share in 2008.
Celera Corporation, located in Alameda, California, is a healthcare business focusing on the integration of genetic testing into routine clinical care through a combination of products and services.
Those who purchased shares of Celera Corporation (NASDAQ: CRA) have certain options and should contact the Shareholders Foundation.
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