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.