Lawsuit Overview
Settlement Overview
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December 10, 2015 - The court approved the settlement, the plan of allocation, the motion for attorneys’ fees and expenses, and dismissed the action with prejudice.
November 20, 2015 - The court granted plaintiff's motion for final approval of class action settlement and granted in part and denied in part plaintiff's motion for attorneys' fees and costs.
March 31, 2015 - The court preliminarily approved the settlement.
August 29, 2014 - Parties filed a stipulation of settlement.
October 4, 2013 - The lead plaintiff filed a third amended complaint.
September 3, 2013 - The court denied the defendants' motion to file for a motion for reconsideration.
September 21, 2012 - The defendants filed a motion to file for a motion for reconsideration of the September 4, 2012 order on motion to dismiss.
September 4, 2012 - The court denied the defendants' motion to dismiss.
June 21, 2011 - The defendants filed a motion to dismiss.
May 6, 2011 - The lead plaintiff filed a second amended complaint.
November 29, 2010 - The defendants filed a motion to dismiss.
October 15, 2010 - The lead plaintiff filed an amended consolidated complaint.
September 23, 2010 - Some cases were de-consolidated.
September 20, 2010 - Two plaintiffs filed a motion for reconsideration of the lead plaintiff and counsel order.
September 14, 2010 - The lead plaintiff and lead counsel were appointed and all cases were consolidated.
August 13, 2010 - A lead plaintiff motion was filed.
June 14, 2010 - An investor in shares of Celera Corporation (NASDAQ: CRA) filed a lawsuit 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 reported in 2007 Total Revenue of $138.67 million, in 2008 $93.05 million, and in 2009 $167.10million.
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.