The Law Office of Abe Shainberg Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Genoptix, ...
01 Febrero 2011 - 1:46PM
Business Wire
The Law Office of Abe Shainberg is investigating the Board of
Directors of Genoptix, Inc. (“Genoptix” or the “Company”) (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, thus unlawfully harming Genoptix stockholders. At least one
analyst set a price target of $28.00 per share 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 Abe Shainberg, Esq. either
via email at as@ashainberglaw.com or by telephone at (212)
425-7286, or visit
http://www.ashainberglaw.com/genoptix-gxdx.html.
Mr. Shainberg has expertise in prosecuting investor securities
litigation, is a certified and registered arbitrator and mediator
involving financial matters, and represents investors in various
matters nationwide. Attorney advertising. Prior results do not
guarantee similar outcomes.
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