Weiss & Lurie, a national class action and shareholder rights law firm with offices in New York City and Los Angeles, is investigating possible breaches of fiduciary duty and other violations of law by members of the Board of Directors of Genoptix, Inc. (NASDAQ: GXDX) arising from the proposed acquisition of Genoptix by Novartis AG (NYSE: NVS).
Under the terms of the tender offer, shareholders will receive $25.00 in cash for each share of Genoptix common stock. The transaction is expected to close within the first half of 2011.
Weiss & Lurie is investigating whether Genoptix’s Board acted in the best interests of shareholders in approving the transaction and whether the Board properly sought to maximize shareholder value. Each of Genoptix’ directors and executive officers has agreed to tender their shares in the offer. Of particular concern is that, as recently June 2010, Genoptix stock traded above the $25.00 per share offered. Indeed, Genoptix stock traded at a high of $39.00 per share in April and May 2010. At least one analyst had set the target price of Genoptix stock at $28.00 per share in December 2010, prior to the announcement of the proposed transaction.
If you own Genoptix shares and would like more information about your rights as a shareholder or additional information concerning our investigation, please contact Julia J. Sun either by email at email@example.com or by telephone at (888) 593-4771.Weiss & Lurie has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded institutions and individuals and obtained important corporate governance in these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (such as insider trading, waste of corporate assets, accounting fraud, or issuing materially misleading press releases or SEC filings), consumer fraud (such as false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at firstname.lastname@example.org or fill out the form on our website, http://www.weisslurie.com/contact/report_fraud/. Attorney Advertising. Past results do not guarantee a similar outcome.