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The Law Office of Abe Shainberg Launches an Investigation into Possible Breaches of Fiduciary Duty by the Board of Genoptix, In

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  Published in Health and Fitness on Tuesday, February 1st 2011 at 18:40 GMT by Market Wire
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NEW YORK--([ BUSINESS WIRE ])--The Law Office of Abe Shainberg is investigating the Board of Directors of Genoptix, Inc. (aGenoptixa or the aCompanya) (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, thus unlawfully harming Genoptix stockholders. At least one analyst 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 own common stock in Genoptix and wish to obtain additional information, please contact Abe Shainberg, Esq. either via email at [ as@ashainberglaw.com ] or by telephone at (212) 425-7286, or visit [ http://www.ashainberglaw.com/genoptix-gxdx.html ].

Mr. Shainberg has expertise in prosecuting investor securities litigation, is a certified and registered arbitrator and mediator involving financial matters, and represents investors in various matters nationwide. Attorney advertising. Prior results do not guarantee similar outcomes.