Pomerantz Grossman Hufford Dahlstrom & Gross LLP is investigating claims on behalf of investors of Complete Genomics, Inc. (“Complete Genomics” or the “Company”) (NASDAQ: GNOM) (ISIN: US20454k1043) concerning the proposed acquisition of Complete Genomics by BGI-Shenzhen in a cash transaction valued at approximately $117.6 million. The investigation concerns whether the Complete Genomics directors are breaching their fiduciary duties by failing to adequately shop the Company and maximize shareholder value. Under the terms of the agreement, Complete Genomics shareholders would receive $3.15 in cash per share of Complete Genomics common stock. However, the Price to Revenue and Book Value multiples are below that of comparable transactions. Additionally, at least one analyst has set a target price for Complete Genomics shares at $5.00 per share. Complete Genomics shareholders seeking more information about this acquisition are advised to contact Rebecca Jarmon at firstname.lastname@example.org or 212-661-1100 or 888-476-6529, ext. 314. The Pomerantz Firm, with offices in New York, Chicago and San Diego, is acknowledged as one of the premier firms in the areas of corporate, securities, and antitrust class litigation. Founded by the late Abraham L. Pomerantz, known as the dean of the class action bar, the Pomerantz Firm pioneered the field of securities class actions. Today, more than 75 years later, the Pomerantz Firm continues in the tradition he established, fighting for the rights of the victims of securities fraud, breaches of fiduciary duty, and corporate misconduct. The Firm has recovered numerous multimillion-dollar damages awards on behalf of defrauded investors. See www.pomerantzlaw.com.
Complete Genomics (Nasdaq:GNOM) is trading at unusually high volume Tuesday with 5.6 million shares changing hands. It is currently at four times its average daily volume and trading down 23 cents (-7.7%).