Health & Fitness
Health and Fitness
Health and Fitness
Thu, February 3, 2011Wed, February 2, 2011Tue, February 1, 2011Mon, January 31, 2011Sun, January 30, 2011Fri, January 28, 2011Thu, January 27, 2011Wed, January 26, 2011Tue, January 25, 2011Mon, January 24, 2011Sun, January 23, 2011Sat, January 22, 2011Fri, January 21, 2011Thu, January 20, 2011Wed, January 19, 2011Tue, January 18, 2011Mon, January 17, 2011Fri, January 14, 2011Thu, January 13, 2011Wed, January 12, 2011Tue, January 11, 2011Mon, January 10, 2011Sun, January 9, 2011Fri, January 7, 2011Brower Piven Announces an Investigation of the Acquisition of Genoptix, Inc. by Novartis AG
Published in Health and Fitness on Monday, January 24th 2011 at 11:00 GMT by Market Wire
STEVENSON, Md.--([ BUSINESS WIRE ])--The law firm of Brower Piven, A Professional Corporation, has commenced an investigation into possible breaches of fiduciary duty to current shareholders of Genoptix, Inc. (aGenoptixa) (NASDAQ:GXDX) and other violations of state law by the Board of Directors of Genoptix relating to the proposed acquisition of the company by Novartis AG (aNovartisa). The firma™s investigation seeks to determine whether Genoptix and its Board breached their fiduciary duties by failing to maximize shareholder value.
On January 24, 2011, Genoptix announced that it had entered into a definitive merger agreement to be acquired by Novartis in a transaction valued at approximately $470 million. Under the terms of the agreement, Novartis will commence an all cash tender offer for all outstanding shares of common stock of Genoptix at $25.00 per share. Each of Genoptixa™s directors and executive officers has already agreed to tender their shares in the offer. Although Novartisa™s acquisition price represents a 39% premium over Genoptixa™s share value on December 13, 2010, when rumors of a sale sparked a price surge, at least one securities analyst has set a price target of $28.00 per share, and Genoptix stock traded as high as $38.79 per share as recently as April 30, 2010.
If you currently own shares of Genoptix and would like to learn more about the investigation being conducted by Brower Piven, you may e-mail or call Brower Piven, who will, without obligation or cost to you, attempt to answer your questions. You may contact Brower Piven by email at [ hoffman@browerpiven.com ], by calling 410/415-6616, or at Brower Piven, A Professional Corporation, 1925 Old Valley Road, Stevenson, Maryland 21153. Attorneys at Brower Piven have combined experience litigating securities and other class action cases of over 60 years.
