September 21, 2020 - An investor in shares of Fluidigm Corporation (NASDAQ: FLDM) filed a lawsuit in the U.S. District Court for the Northern District of California over alleged violations of Federal Securities Laws by Fluidigm Corporation in connection with certain allegedly false and misleading statements made between February 7, 2019 and November 5, 2019.

San Francisco, CA based Fluidigm Corporation creates, manufactures, and markets technologies and tools for life sciences research worldwide.

On August 1, 2019, Fluidigm Corporation reported second quarter 2019 revenue of $28.2 million, well below analysts’ expectations of $32 million, citing weakness in its microfluidics segment.

Then, on November 5, 2019, after the market closed, Fluidigm Corporation reported that third quarter 2019 revenue declined 8.5% year-over-year primarily due to mass cytometry instrument sales.

Shares of Fluidigm Corporation (NASDAQ: FLDM) declined from $14.50 per share in March 2019 to as low as $2.31 per share on November 8, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Fluidigm Corporation (NASDAQ: FLDM) common shares between February 7, 2019 and November 5, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between February 7, 2019 and November 5, 2019, the Defendants failed to disclose to investors that Fluidigm was experiencing longer sales cycles that, as a result, Fluidigm’s revenue was reasonably likely to decline, and that, as a result of the foregoing, Defendants’ positive statements about the Company’s business, operations, and prospects were materially misleading and/or lacked a reasonable basis.