Robbins Geller Rudman & Dowd LLP and Scott+Scott, Attorneys at Law, LLP Announce Proposed Settlement of Class Action in the

   Robbins Geller Rudman & Dowd LLP and Scott+Scott, Attorneys at Law, LLP
   Announce Proposed Settlement of Class Action in the Pacific Biosciences
                            Securities Litigation

PR Newswire

SAN DIEGO, July 25, 2013

SAN DIEGO, July 25, 2013 /PRNewswire/ -- The following statement is being
issued by Robbins Geller Rudman & Dowd LLP and Scott+Scott, Attorneys at Law,
LLP regarding the Pacific Biosciences Securities Litigation

SUPERIOR COURT OF THE STATE OF CALIFORNIA
COUNTY OF SAN MATEO

IN RE PACIFIC BIOSCIENCES OF CALIFORNIA, INC. SECURITIES LITIGATION
This Document Relates To: ALL ACTIONS.
Case No. CIV509210
SUMMARY NOTICE OF PROPOSED SETTLEMENT OF CLASS ACTION
Hon. Marie S. Weiner

TO: ALL PERSONS OR ENTITIES ("PERSONS") THAT PURCHASED PACIFIC BIOSCIENCES OF
CALIFORNIA, INC. ("PACB" OR THE "COMPANY") COMMON STOCK BETWEEN OCTOBER 27,
2010 AND SEPTEMBER 20, 2011, INCLUSIVE (THE "CLASS PERIOD"), INCLUDING THOSE
PERSONS THAT PURCHASED THE COMPANY'S STOCK PURSUANT OR TRACEABLE TO THE
COMPANY'S REGISTRATION STATEMENT AND PROSPECTUS FOR THE COMPANY'S OCTOBER 27,
2010 INITIAL PUBLIC OFFERING (THE "CLASS").

THIS NOTICE WAS AUTHORIZED BY THE COURT. IT IS NOT A LAWYER SOLICITATION.
PLEASE READ THIS NOTICE CAREFULLY AND IN ITS ENTIRETY.

YOU ARE HEREBY NOTIFIED that a hearing will be held on October 25, 2013 at
9:00 a.m., before the Honorable Marie S. Weiner at the Superior Court of
California, County of San Mateo, Department 2, Court Room 7A, 400 County
Center, Redwood City, CA 94063, to determine whether: (1) the proposed
settlement (the "Settlement") of the above-captioned action ("Action") for at
least $7,686,494.82 in cash should be approved by the Court as fair,
reasonable and adequate; (2) the Final Judgment of Dismissal as provided under
the Stipulation and Agreement of Settlement ("Stipulation") should be entered,
dismissing the First Amended Consolidated Class Action Complaint filed in the
Action on the merits and with prejudice; (3) the release by the Class of the
Settled Claims, as set forth in the Stipulation, should be provided to the
Released Parties; (4) this Action satisfies the applicable prerequisites for
class action treatment under California Code of Civil Procedure §382; (5) to
award Plaintiffs' Counsel attorneys' fees and expenses out of the Settlement
Fund (as defined in the Notice of Proposed Settlement of Class Action
("Notice"), which is discussed below); (6) to reimburse Plaintiffs the costs
and expenses (including lost wages) they incurred in prosecuting this Action
on behalf of the Class out of the Settlement Fund; and (7) the Plan of
Allocation should be approved by the Court.

This Action is a securities fraud class action brought on behalf of those
Persons who purchased the common stock of PACB during the Class Period,
against PACB, ten of its current and/or former key executives and directors,
and four Underwriters (collectively, "Defendants") for allegedly misstating
and omitting material facts from the Registration Statement and Prospectus
filed with the SEC in connection with the October 27, 2010 Initial Public
Offering ("IPO"), including: (1) facts relating to the status, development,
and effectiveness of a technology to study the synthesis and regulation of
DNA (the "RS System"); (2) the existence of serious "bugs" that were plaguing
the RS System and causing it to be unstable and unreliable; (3) the
effectiveness and accuracy of PACB's technologies for sequencing genomes as
compared to their competitors' technologies; (4) the RS System's relatively
low raw-read accuracy, throughput and yields; (5) that purchasers of the RS
System would have to compromise read length for accuracy; (6) demand for the
RS System; and (7) the strength of the competition to the RS System.
Plaintiffs allege that these purportedly false and misleading statements
inflated the price of the Company's stock, resulting in damage to Class
Members when the truth was revealed. Defendants deny all of Plaintiffs'
allegations.

IF YOU PURCHASED PACB COMMON STOCK ON OR ABOUT OCTOBER 27, 2010 THROUGH AND
INCLUDING SEPTEMBER 20, 2011, INCLUDING IF YOU PURCHASED THE COMPANY'S STOCK
PURSUANT AND/OR TRACEABLE TO THE COMPANY'S REGISTRATION STATEMENT AND
PROSPECTUS FILED WITH THE SEC IN CONNECTION WITH THE COMPANY'S OCTOBER 27,
2010  IPO, YOUR RIGHTS MAY BE AFFECTED BY THE SETTLEMENT OF THIS ACTION.

To share in the distribution of the Settlement Fund, you must establish your
rights by filing a Proof of Claim on or before October 16, 2013. Your failure
to submit your Proof of Claim by October 16, 2013 will subject your claim to
rejection and preclude your receiving any of the recovery in connection with
the Settlement of this Action. If you are a member of the Class and do not
request exclusion therefrom, you will be bound by the Settlement and any
judgment and Release entered in the Action, including, but not limited to, the
Final Order, whether or not you submit a Proof of Claim.

If you have not received a copy of the Notice, which more completely describes
the Settlement and your rights thereunder (including your right to object to
the Settlement), and a Proof of Claim form, you may obtain these documents, as
well as a copy of the Stipulation (which among other things contains
definitions for the defined terms used in this Summary Notice) and other
settlement documents, online at
www.PacificBiosciencesSecuritiesLitigation.com, or by writing to:

Pacific Biosciences Securities Litigation Settlement
c/o GCG
P.O. Box 35072
Seattle, WA 98124-3508
Phone: (866) 297-1225

Inquiries should NOT be directed to Defendants, the Court, or the Clerk of the
Court.

Inquiries, other than requests for the Notice or for a Proof of Claim form,
may be made to Plaintiffs' Counsel:

ROBBINS GELLER RUDMAN & DOWD LLP
James I. Jaconette, Esq.
655 West Broadway, Suite 1900
San Diego, CA 92101
Phone: (800) 449-4900
Fax: (619) 231-7423

SCOTT+SCOTT, ATTORNEYS AT LAW, LLP
Anne L. Box, Esq.
707 Broadway, Suite 1000
San Diego, CA 92101
Phone: (619) 233-4565
Fax: (619) 233-0508

IF YOU DESIRE TO BE EXCLUDED FROM THE CLASS, YOU MUST SUBMIT A REQUEST FOR
EXCLUSION BY SEPTEMBER 25, 2013, IN THE MANNER AND FORM EXPLAINED IN THE
NOTICE. ALL MEMBERS OF THE CLASS WHO HAVE NOT REQUESTED EXCLUSION FROM THE
CLASS WILL BE BOUND BY THE SETTLEMENT ENTERED IN THE ACTION EVEN IF THEY DO
NOT FILE A TIMELY PROOF OF CLAIM.

Dated: June 3, 2013

HON. MARIE S. WEINER
SUPERIOR COURT JUDGE FOR THE STATE OF CALIFORNIA, COUNTY OF SAN MATEO

SOURCE Robbins Geller Rudman & Dowd LLP; Scott+Scott, Attorneys at Law, LLP

Website: http://www.pacificbiosciencessecuritieslitigation.com
Contact: James I. Jaconette, Esq., ROBBINS GELLER RUDMAN & DOWD LLP, (800)
449-4900; or Anne L. Box, Esq., SCOTT+SCOTT, ATTORNEYS AT LAW, LLP, (619)
233-4565
 
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