New York, NY 2/11/13—Illumina and its Board members are named as defendants in a lawsuit brought by Vista Capital Management, a Swiss private equity fund. Vista Capital Management owns more than 300,000 shares of Illumina’s publicly traded common stock. According to the complaint filed in US District Court for the Southern District of New York, the company and its directors breached their fiduciary duty through “their self-interested refusal to enter into meaningful discussions or negotiations in response to multiple offers to acquire the Company made by Roche Holding AG at prices substantially above Illumina’s market price” (see IBO 4/30/12). The complaint cited media reports that the Board refused “to entertain overtures” by Roche in December 2012 and January in the range of $70 per share. The complaint also alleged that fiduciary duty was breached by the stockholder rights plan and that the Recommendation Statement made in connection with Roche’s offer did not disclose material information. The suit seeks the disclosure of information since June 2012 regarding Roche’s offer and compensatory damages in excess of $10 million, among other remedies.