Kendall Law Group, led by former federal judge Joe Kendall, is investigating Genoptix, Inc. (Nasdaq: GXDX) for shareholders in connection with the proposed acquisition by Novartis. The national securities firm’s investigation seeks to determine whether Genoptix and its Board breached their fiduciary duties by entering into the agreement without properly shopping for a deal that would provide better value for shareholders. If you are a Genoptix shareholder and would like additional information about your rights, contact the Kendall Law Group at 877-744-3728 or by email at firstname.lastname@example.org.
On January 24, 2011, Genoptix announced the definitive merger agreement under which the company would be acquired by Novartis, in a transaction valued at approximately $470 million. Under the terms of the agreement, Genoptix stockholders will receive $25.00 in cash for each share of Genoptix/GXDX common stock held. The offer represents a 27% premium over Genoptix’s Friday closing price of $19.76. According to Thompson/First Call, analysts have set a price target as high as $28.00 per share for Genoptix stock. The firm seeks to determine whether the transaction provides proper value for the company.
Kendall Law Group was founded by a former federal judge, includes a former United States Attorney, prosecutors and securities lawyers who are experienced in complex securities litigation. The firm has been counsel in numerous merger and acquisition cases nationwide, including some of the largest transactions in the United States.