Illumina, along with several current and former directors, has entered into a settlement agreement to dismiss the lawsuit filed by Icahn Partners LP concerning the company's acquisition of GRAIL, Inc. The settlement was reached to avoid the expense and uncertainty of continued litigation and involves no monetary payment by any party.
Key Details
- Litigation: The settlement resolves the lawsuit captioned Icahn Partners LP, et al., v. Francis DeSouza, et al., which alleged breaches of fiduciary duty related to the GRAIL acquisition.
- Settlement Terms: The agreement includes mutual releases with no payment by any party. The dismissal is with prejudice as to the Icahn plaintiffs only, and without prejudice to any other Illumina stockholders, including those in separate, ongoing derivative lawsuits.
- Next Steps: The proposed dismissal is subject to court approval, with a hearing scheduled for November 2, 2026.