Rigrodsky & Long, P.A. Investigates Genoptix, Inc. Buyout
24 Gennaio 2011 - 4:36PM
Business Wire
Rigrodsky & Long, P.A. announces that it is investigating
potential claims against the board of directors of Genoptix, Inc.
(“Genoptix” or the “Company”) (Nasdaq: GXDX) concerning possible
breaches of fiduciary duty and other violations of law related to
the Company’s entry into an agreement to be acquired by Novartis in
a transaction with an approximate total equity value of $470
million. Click here to learn how to join the action:
http://www.rigrodskylong.com/news/GenoptixInc-GXDX.
Under the proposed agreement, Novartis will commence an all cash
tender offer for all outstanding shares of common stock of Genoptix
at $25.00 per share. Additionally, each of Genoptix’ directors and
executive officers has agreed to tender their shares in the
offer.
The investigation concerns whether Genoptix’ board of directors
failed to adequately shop the Company and obtain the best price
possible for Genoptix’ shareholders before entering into the
agreement with Novartis. Indeed, according to Yahoo! Finance, at
least one analyst has set a $28.00 per share price target for
Genoptix stock.
If you own the common stock of Genoptix and purchased your
shares before January 24, 2011, if you have information or would
like to learn more about these claims, or if you wish to discuss
these matters or have any questions concerning this announcement or
your rights or interests with respect to these matters, please
contact Seth D. Rigrodsky, Esquire or Noah R. Wortman, Case
Development Director, of Rigrodsky & Long, P.A., 919 N. Market
Street, Suite 980, Wilmington, Delaware, by telephone at (888)
969-4242, or by e-mail to info@rigrodskylong.com.
Rigrodsky & Long, P.A., with offices in Wilmington, Delaware
and Garden City, New York, regularly litigates securities class,
derivative and direct actions, shareholder rights litigation and
corporate governance litigation, including claims for breach of
fiduciary duty and proxy violations in the Delaware Court of
Chancery and in state and federal courts throughout the United
States.
Attorney advertising. Prior results do not guarantee a similar
outcome.
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