FLUIDIGM CORPORATION CLASS ACTION ALERT: Wolf Haldenstein Adler Freeman & Herz LLP announces that a securities class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of investors who purchased Fluidigm Corporation
LEAD PLAINTIFF DEADLINE IS NOVEMBER 20, 2020
NEW YORK, Sept. 23, 2020 (GLOBE NEWSWIRE) -- Wolf Haldenstein Adler Freeman & Herz LLP announces that a federal securities class action lawsuit has been filed in the United States District Court for the Northern District of California on behalf of investors who purchased Fluidigm Corporation (“Fluidigm” or the “Company”) (NASDAQ: FLDM) securities between February 7, 2019 and November 5, 2019, inclusive (the “Class Period”).
All investors who purchased shares of Fluidigm Corporation and incurred losses are urged to contact the firm immediately at classmember@whafh.com or (800) 575-0735 or (212) 545-4774. You may obtain additional information concerning the action or join the case on our website, www.whafh.com.
If you have incurred losses in the shares of Fluidigm Corporation, you may, no later than November 20 , 2020, request that the Court appoint you lead plaintiff of the proposed class. Please contact Wolf Haldenstein to learn more about your rights as an investor in the shares of Fluidigm Corporation.
The filed complaint alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, 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 was materially misleading and/or lacked a reasonable basis.
On August 1, 2019, Fluidigm reported second quarter 2019 revenue of $28.2 million, well below analysts’ expectations of $32 million, citing weakness in its microfluidics segment. On this news, the Company’s share price fell $4.10, or 34%, to close at $8.05.
Then, on November 5, 2019, after the market closed, Fluidigm reported that third quarter 2019 revenue declined 8.5% year-over-year primarily due to mass cytometry instrument sales. On this news, the Company’s share price fell $2.60, or 51%, to close at $2.51 per share on November 6, 2019.
Wolf Haldenstein has extensive experience in the prosecution of securities class actions and derivative litigation in state and federal trial and appellate courts across the country. The firm has attorneys in various practice areas; and offices in New York, Chicago and San Diego. The reputation and expertise of this firm in shareholder and other class litigation has been repeatedly recognized by the courts, which have appointed it to major positions in complex securities multi-district and consolidated litigation.
If you wish to discuss this action or have any questions regarding your rights and interests in this case, please immediately contact Wolf Haldenstein by telephone at (800) 575-0735, via e-mail at classmember@whafh.com, or visit our website at www.whafh.com.
Contact:
Wolf Haldenstein Adler Freeman & Herz LLP
Kevin Cooper, Esq.
Gregory Stone, Director of Case and Financial Analysis
Email: gstone@whafh.com, kcooper@whafh.com or classmember@whafh.com
Tel: (800) 575-0735 or (212) 545-4774
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