Health & Fitness
Mon, January 9, 2012
ATLANTA--([ BUSINESS WIRE ])--Holzer Holzer & Fistel, LLC announces that it is investigating potential breaches of fiduciary duty by certain officers and directors of Pacific Biosciences of California, Inc. (aPacBioa or the aCompanya) (NASDAQ: PACB). On December 28, 2011, an investor filed a class action lawsuit in the Northern District of California alleging that PacBio violated the federal securities laws between October 27, 2010 and September 20, 2011 (the aClass Perioda). The lawsuit alleges, among other things, that during the Class Period the Company concealed or misrepresented certain limitations its RS technology faced. On September 20, 2011, PacBio announced that would not achieve revenue targets and that it was laying off 130 people. PacBioas stock price fell nearly 24 percent following that announcement.
Holzer Holzer & Fistel, LLCas investigation seeks to determine if the allegations contained in the class action complaint also give rise to separate claims for breaches of fiduciary duty.
If you have continuously held shares since at least October 27, 2010, and plan to continue to hold at least some shares of PacBio, and would like to discuss your legal rights, you may contact Michael I. Fistel, Jr., Esq., or Marshall P. Dees, Esq. via email at [ mfistel@holzerlaw.com ], or [ mdees@holzerlaw.com ], or via toll-free telephone at (888) 508-6832.
Holzer Holzer & Fistel, LLC is an Atlanta, Georgia law firm that dedicates its practice to vigorous representation of shareholders and investors in litigation nationwide, including shareholder class action and derivative litigation. More information about the firm is available through its website, [ www.holzerlaw.com ], and upon request from the firm. Holzer Holzer & Fistel, LLC has paid for the dissemination of this promotional communication, and Michael I. Fistel, Jr. is the attorney responsible for its content.
