Exclusive: Illumina board members allege activist director gave confidential information to Icahn for use in lawsuit

Il­lu­mi­na di­rec­tors have al­leged that an ac­tivist who joined the board last year im­prop­er­ly sup­plied con­fi­den­tial in­for­ma­tion to in­vestor Carl Ic­ahn for use in his law­suit against them.

In May, An­drew Teno, a port­fo­lio man­ag­er at Ic­ahn En­ter­pris­es, was elect­ed to Il­lu­mi­na’s board af­ter a proxy cam­paign launched by Ic­ahn. Months lat­er, the board mem­bers al­lege, Teno fun­neled the doc­u­ments un­der­pin­ning Ic­ahn’s law­suit, which is fo­cused on Il­lu­mi­na’s $8 bil­lion ac­qui­si­tion of Grail in 2021.

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