Illumina settles Icahn derivative suit over GRAIL; no payment, dismissal hearing Nov 2, 2026

ILLUMINA, INC.

Settlement reached Aug 21, 2025: mutual releases, no payment; dismissal with prejudice as to Icahn plaintiffs only.
Dismissal without prejudice to other stockholders; three related derivative actions (Omaha, Roseville, Pavers) unaffected.
Court hearing on proposed dismissal set for Nov 2, 2026, 1:30 p.m. ET before Vice Chancellor Fioravanti.
Release includes potential claims against Andrew Teno for sharing confidential/privileged materials in the action.
Litigation challenged Illumina's ~$8B GRAIL acquisition; EC's $476M fine later withdrawn after ECJ jurisdiction ruling.

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