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Rigrodsky & Long, P.A. Investigates Genoptix, Inc. Buyout

^{Published on 2011-01-24 08:05:34 - Market Wire}
 

WILMINGTON, Del.--([ BUSINESS WIRE ])--[ Rigrodsky & Long, P.A. ] announces that it is investigating potential claims against the board of directors of Genoptix, Inc. (aGenoptixa or the aCompanya) (Nasdaq: [ GXDX ]) concerning possible breaches of fiduciary duty and other violations of law related to the Companya™s entry into an agreement to be acquired by Novartis in a transaction with an approximate total equity value of $470 million. Click here to learn how to join the action: [ http://www.rigrodskylong.com/news/GenoptixInc-GXDX ].

Under the proposed agreement, Novartis will commence an all cash tender offer for all outstanding shares of common stock of Genoptix at $25.00 per share. Additionally, each of Genoptixa™ directors and executive officers has agreed to tender their shares in the offer.

The investigation concerns whether Genoptixa™ board of directors failed to adequately shop the Company and obtain the best price possible for Genoptixa™ shareholders before entering into the agreement with Novartis. Indeed, according to Yahoo! Finance, at least one analyst has set a $28.00 per share price target for Genoptix stock.

If you own the common stock of Genoptix and purchased your shares before January 24, 2011, if you have information or would like to learn more about these claims, or if you wish to discuss these matters or have any questions concerning this announcement or your rights or interests with respect to these matters, please contact [ Seth D. Rigrodsky, Esquire ] or [ Noah R. Wortman, Case Development Director ], of Rigrodsky & Long, P.A., 919 N. Market Street, Suite 980, Wilmington, Delaware, by telephone at (888) 969-4242, or by e-mail to [ info@rigrodskylong.com ].

Rigrodsky & Long, P.A., with offices in Wilmington, Delaware and Garden City, New York, regularly litigates securities class, derivative and direct actions, shareholder rights litigation and corporate governance litigation, including claims for breach of fiduciary duty and proxy violations in the Delaware Court of Chancery and in state and federal courts throughout the United States.

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