Saturday, November 14, 2009

Shareholder Lawsuits May Destroy Sequenom: December Settlement Likely

One of the leaders in oncology and prenatal diagnostics - Sequenom (Nasdaq:SQNM), may be forced into bankruptcy by the shareholder lawsuits. The shareholder lawyers

There are many lawsuits filed against the company, but almost all of them can be discarded, because the company did everything right when it found out about the data mishandling. But about 150 million suit may pose danger to the company and it significantly limits company's ability to raise funds. Even 150 million is too much for SQNM to cover.
Inability to raise funds next year may force the company into bankruptcy and leave the shareholders and the suitors with nothing. And most importantly, it will delay the essential diagnostic tests for many cancers, Downs syndrome, HPV, etc.

In the case that the company and the shareholders don't settle by mid-December, we will lose one of the most perspective diagnostics companies.

(c) OncologyBiomarkers.Com

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