The Law Offices of Vincent Wong Announce an Investigation into Possible Breaches of Fiduciary Duty by the Board of Genoptix, ...
25 Enero 2011 - 11:30AM
Business Wire
The Law Offices of Vincent Wong are investigating the Board of
Directors of Genoptix, Inc. (Nasdaq: GXDX) for possible breaches of
fiduciary duty and other violations of state law in connection with
the sale of the Company to Novartis AG (“Novartis”) (NYSE: NVS).
Under the terms of the transaction, Genoptix shareholders will
receive $25.00 cash for each share of Genoptix common stock they
own, for a total transaction value of approximately $470
million.
The investigation concerns whether the Genoptix Board of
Directors breached their fiduciary duties to Genoptix stockholders
by failing to adequately shop the Company before entering into this
transaction and whether Novartis is underpaying for Genoptix
shares. According to Yahoo! Finance, at least one analyst set a
price target of $28.00 per share for Genoptix stock and Genoptix
stock traded as high as $38.79 per share as recently as April 30,
2010.
If you own common stock in Genoptix and wish to obtain
additional information, please contact Vincent Wong, Esq. either
via email vw@wongesq.com, by telephone at 212.584.2740, or visit
http://www.wongesq.com/genoptix-inc.html.
Vincent Wong, Esq. is an experienced attorney that has
represented investors in securities litigations involving financial
fraud and violations of shareholder rights. Attorney advertising.
Prior results do not guarantee similar outcomes.
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