Settlement Alert: In re Illumina Inc. Derivative Litigation

11/15/2017 - On November 8, 2017, Vice Chancellor Laster of the Delaware Court of Chancery approved the Notice of Pendency of Settlement of Action in the consolidated derivative lawsuit brought on behalf of Illumina Inc. against the company's Board of Directors.  The Consolidation Action alleged that the Illumina Directors breached their fiduciary duties to Illumina by paying themselves excessive compensation.  A copy of the Notice is available here and a copy of the Stipulation and Compromise of Settlement is available here.   The court has scheduled a Settlement Hearing  for February 7, 2018 at 2:00 p.m. in the Court of Chancery, New Castle County Courthouse, 500 North King Street, Wilmington, DE 19801. 

Please contact BR&B attorney Michael A. Toomey at mtoomey@barrack.com if you have any questions about the settlement.