This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
$1 buys you full access to ALL of TheStreet's Subscription Services! Learn More

The Briscoe Law Firm Investigates Genoptix, Inc. On Behalf Of Shareholders For Possible Breaches Of Fiduciary Duties By Its Officers And Directors

The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the law firm of Powers Taylor LLP are investigating potential legal claims against the Board of Directors of Genoptix, Inc (“Genoptix” or “GXDX”) (NASDAQ: GXDX) during the period of July 31, 2009 and June 15, 2010.

It has been alleged in a recently filed complaint that during the period of July 31, 2009 through June 15, 2010 (the “class period”) Genoptix and certain of its executive officers and directors engaged in violations of the Securities Exchange Act of 1934. More specifically, the complaint alleges that Genoptix failed to disclose and misrepresented the following material adverse facts which were allegedly known to the defendants or recklessly disregarded by them: (1) that the company's current business model was unsustainable; (2) that due to known trends and uncertainties, including increased competition and increased managed care pressures, Genoptix would be unable to grow and would have difficulty maintaining its current client base; (3) that the reconfiguration of Genoptix's sales force had severely impacted its ability to grow revenue; (4) that Genoptix lacked adequate internal controls; and (5) that, as a result of the foregoing, the defendants lacked any reasonable basis for their positive statements about Genoptix's growth and prospects.

Moreover, it has further been alleged that during the class period, certain of the company's top executives and/or directors sold approximately 172,000 Genoptix shares at artificially inflated prices for proceeds of approximately $5.8 million.

If you currently own or purchased Genoptix/GXDX shares and would like additional information regarding this investigation, or if you have information regarding the allegations against the company, please contact Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, via e-mail at patrick@powerstaylor.com or Willie Briscoe at The Briscoe Law Firm, PLLC toll free (877) 397-5991, or via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or fee to you.

The Briscoe Law Firm is a full service business litigation, commercial transaction, and public advocacy firm with more than 20 years of experience in complex litigation and transactional matters.

1 of 2

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,814.94 -2.96 -0.02%
S&P 500 2,067.03 -2.38 -0.12%
NASDAQ 4,758.2520 +3.36 0.07%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs