SOURCE: Kendall Law Group, LLP

Kendall Law Group, LLP

June 15, 2009 17:45 ET

Kendall Law Group, Led by a Former Federal Judge and U.S. Attorney, Reminds Investors About the Upcoming Lead Plaintiff Deadline in the Sequenom Case

DALLAS, TX--(Marketwire - June 15, 2009) - On May 1, 2009, several securities class actions were filed against Sequenom (NASDAQ: SQNM). As a result, investors who purchased Sequenom shares have until June 30, 2009, to request lead plaintiff status.

A lead plaintiff is a class member who acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members. Members of the proposed class include those who purchased SQNM stock between June 4, 2008 through April 29, 2009. If you wish to serve as a lead plaintiff, please contact attorney Hamilton Lindley at 877-744-3728 or by email at

The lawsuit was filed against Sequenom in the United States District Court for the Southern District of California alleging that Defendants issued public statements concerning the Company's "crown jewel" -- SEQureDx Down syndrome test -- which is intended to detect Down Syndrome in the first trimester of a pregnancy. Consistently, the Defendants reported that clinical results concerning the trials for the drug were extremely favorable, with 100% detection and no false positives, compared to only 70-90% detection and 5% false positives in competing tests. Further, the Company represented that the product would be ready for sale by June 2009. However, Defendants failed to disclose that: (1) Sequenom employees "mishandled" test data and results regarding SEQureDx clinical trials; (2) SEQureDx did not offer verifiable, statistically significant improvement over competing tests; and (3) due to undisclosed problems with the clinical tests data and results, Sequenom would be unable to bring SEQureDx to the market by June 2009.

After the Company disclosed the above listed facts, Sequenom's stock price fell by $11.29, or more than 75%, on very high trading volume of over 88 million shares.

Although Kendall Law Group has not filed a lawsuit against the defendants, the firm has tremendous success in representing investors against companies that have committed securities fraud. For more information about this case, your rights, and Kendall Law Group, please visit: or call us at 877-744-3728.