Health & Fitness
Fri, January 27, 2012
NEW YORK--([ BUSINESS WIRE ])--Levi & Korsinsky is investigating the Board of Directors of Illumina, Inc. (aIlluminaa or the aCompanya) (Nasdaq: ILMN) for possible breaches of fiduciary duty and other violations of state law in connection with an unsolicited merger proposal from Roche. Under the proposed agreement, Roche would acquire all outstanding shares of Illumina for $44.50 per share in cash. The transaction has a total approximate value of $5.7 billion.
"Illumina has been unwilling to participate in substantive discussions."
Click here to learn how to join the action: [ http://www.zlk.com/illumina-ilmn ], or call: 877-363-5972.
The investigation concerns whether the Illumina Board of Directors breached their fiduciary duties Illumina stockholders by allegedly failing to engage in meaningful discussion with Roche regarding the merger proposal. In a January 25, 2012 letter to Illuminaas President and CEO, Rocheas Chairman suggested that aIllumina has been unwilling to participate in substantive discussions.a Rocheas current offer represents a 64% premium over Illuminaas stock price on December 21, 2011. Furthermore, the Company said that it is adopting a "poison pill" takeover defense in the wake of an unsolicited buyout proposal from Roche.
If you own common stock in Illumina and wish to obtain additional information, please contact Joseph E. Levi, Esq. either via email at [ jlevi@zlk.com ] or by telephone at (212) 363-7500, toll-free: (877) 363-5972, or [ http://www.zlk.com ].
Levi & Korsinsky has extensive expertise in prosecuting investor securities litigation involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. For more information, please feel free to contact any of the attorneys listed below. Attorney advertising. Prior results do not guarantee similar outcomes.
