Genoptix, Inc. Shareholder Investigation By Briscoe Law Firm Concerning Acquisition By Novartis
The Briscoe Law Firm, PLLC, founded by a former state prosecutor and enforcement attorney for the United States Securities and Exchange Commission, and the securities litigation law firm of Powers Taylor LLP are investigating potential legal claims against the Board of Directors of Genoptix, Inc. (“Genoptix” or “GXDX”) (NASDAQ: GXDX) related to the proposed buyout of Genoptix, Inc. by Novartis. The investigation relates to the fairness of the proposed transaction to Genoptix, Inc.’s shareholders, possible breaches of fiduciary duty and other violations of state law by the Board of Directors of Genoptix for approving this transaction, and whether the company’s Board of Directors acted in the shareholders’ best interests.
The definitive merger agreement involves a cash transaction valued at approximately $470 million. Under the proposed transaction, Genoptix shareholders will receive a cash payment of $25.00 for each share of GXDX common stock they hold. However, independent analysts have placed the stock’s value as high as $28.00 per share. “Based on the lack of an appreciable premium to shareholders, and other factors, we have concern whether the proposed acquisition is fair to Genoptix shareholders, and we want to ensure that the shareholders are receiving the maximum value for their stock,” said shareholder rights attorney Willie Briscoe.
If you currently own shares of Genoptix/GXDX and would like additional information regarding this investigation, or if you have information regarding the allegations involved in this transaction, please contact Patrick Powers at Powers Taylor LLP, toll free (877) 728-9607, via e-mail at firstname.lastname@example.org, 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 and shareholder rights advocacy firm with more than 20 years of experience in complex litigation matters.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
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.
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
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.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV