Celera Corporation Securities Litigation Settlement
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Welcome to the Celera Corporation Securities Litigation Settlement Website

This website has been established to provide general information related to the proposed settlement of the Celera Corporation (“Celera” or the “Company”) Securities Litigation. The capitalized terms used on this website, and not defined herein, shall have the same meanings ascribed to them in the Stipulation of Settlement dated August 28, 2014, which can be found and downloaded by clicking on the Case Documents tab above.

This is a securities class action that is pending before Judge Edward J. Davila in the United States District Court for the Northern District of California. Defendant Celera was formed for the purpose of generating and commercializing genomic information to accelerate the understanding of biological processes.

This Litigation alleges that Celera and certain of its executives violated the federal securities laws by making materially false and misleading statements in (i) reporting Celera’s revenue and earnings; (ii) certifying that the Company had adequate internal controls over financial reporting; (iii) representing that Celera’s lab services division, Berkeley HeartLab, Inc.’s (“BHL”), revenue source principally consisted of Medicare and other insurance carriers; and (iv) issuing revenue and earnings guidance for 2009 that lacked a reasonable basis. The Litigation further alleges that the Celera Defendants knew that Celera’s accounts receivable (i.e., the payments due for laboratory services it provided but had not yet collected from customers) were impaired as a result of Blue Cross/Blue Shield’s decision to stop paying Celera directly for its lab services. Lead Plaintiff also alleged that PricewaterhouseCoopers LLP ("PwC") violated Generally Accepted Accounting Standards by issuing clean audit reports for Celera during the Class Period despite its knowledge that Celera’s receivables were impaired because the Company was no longer being paid directly by Blue Cross/Blue Shield. Lead Plaintiff alleges that when Defendants disclosed the truth about the Company’s financial results, Class Members suffered damages as a result of the decline in the price of Celera common stock.

Defendants deny all of Lead Plaintiff’s allegations and further deny that they did anything wrong. Defendants also deny that Lead Plaintiff or the Class suffered damages or that the price of Celera common stock was artificially inflated by reasons of alleged misrepresentations, non-disclosures or otherwise.

The Class is defined as all persons or entities who purchased or otherwise acquired Celera common stock from April 24, 2008 through July 22, 2009 and who were damaged thereby.

The Celera Defendants have agreed to pay or cause to be paid $23,000,000 in cash and PwC has agreed to pay or cause to be paid $1,750,000 in cash for a total of $24,750,000 (the “Settlement Fund”). The Settlement Fund, plus interest earned from the date it is established, less costs, fees, and expenses (the “Net Settlement Fund”), will be divided among all eligible Class Members who send in valid Proofs of Claim.

The Court appointed the law firm of Robbins Geller Rudman & Dowd LLP to represent the Class. These lawyers are called Lead Counsel.

Although the information on this website is intended to assist you, it does not replace the information contained in the Notice of Proposed Settlement of Class Action (the "Notice") and the Stipulation of Settlement, both of which can be found and downloaded from this website. We recommend that you read the Notice and other relevant case documents carefully.

YOUR LEGAL RIGHTS AND OPTIONS IN THIS SETTLEMENT

SUBMIT A CLAIM The only way to get a payment. Claim forms must be mailed or submitted online on or before June 28, 2015.
EXCLUDE YOURSELF Get no payment. This is the only option that allows you to participate in another lawsuit against the Defendants for the legal claims in this case. 
OBJECT You may write to the Court if you do not like this settlement, the request for attorneys’ fees and expenses, or the Plan of Allocation.
GO TO THE SETTLEMENT HEARING You may ask to speak in Court about the fairness of the settlement. Requests to speak must be filed with the Court on or before May 14, 2015.
DO NOTHING Get no payment. Give up your rights.

DEADLINES

Deadline to Submit Proof of Claim: June 28, 2015
Request Exclusion from Class: May 14, 2015
File Objection to the Settlement: May 14, 2015
Court Hearing on Fairness of Settlement: July 16, 2015 at 9:00 a.m.

*The deadline to submit a Proof of Claim Form has been extended by the Court to August 14, 2015 for potential Class Members who were sent the Notice and Proof of Claim Form package on or after April 28, 2015. You are received a postcard our records indicated that your package was sent on or after April 28, 2015.

If you received a postcard and have already submitted a Proof of Claim Form, you do not need to do anything.

If you have not submitted a Proof of Claim Form and intend to do so, to be considered timely, your Proof of Claim Form must be postmarked by August 14, 2015 and addressed to the address included on the Proof of Claim.  You can also submit your Proof of Claim Form online by clicking the File Claim tab.