Health & Fitness
Health and Fitness
Health and Fitness
Tue, January 25, 2011
The Law Offices of Vincent Wong Announce an Investigation into Possible Breaches of Fiduciary Duty by the Board of Genoptix, In
NEW YORK--([ BUSINESS WIRE ])--The Law Offices of Vincent Wong are investigating the Board of Directors of Genoptix, Inc. (Nasdaq: GXDX) for possible breaches of fiduciary duty and other violations of state law in connection with the sale of the Company to Novartis AG (aNovartisa) (NYSE: NVS). Under the terms of the transaction, Genoptix shareholders will receive $25.00 cash for each share of Genoptix common stock they own, for a total transaction value of approximately $470 million.
The investigation concerns whether the Genoptix Board of Directors breached their fiduciary duties to Genoptix stockholders by failing to adequately shop the Company before entering into this transaction and whether Novartis is underpaying for Genoptix shares. According to Yahoo! Finance, at least one analyst set a price target of $28.00 per share for Genoptix stock and Genoptix stock traded as high as $38.79 per share as recently as April 30, 2010.
If you own common stock in Genoptix and wish to obtain additional information, please contact Vincent Wong, Esq. either via email [ vw@wongesq.com ], by telephone at 212.584.2740, or visit [ http://www.wongesq.com/genoptix-inc.html ].
Vincent Wong, Esq. is an experienced attorney that has represented investors in securities litigations involving financial fraud and violations of shareholder rights. Attorney advertising. Prior results do not guarantee similar outcomes.
