SHAREHOLDER ALERT: WeissLaw LLP Investigates Genomic Health, Inc.
SHAREHOLDER ALERT: WeissLaw LLP Investigates Genomic Health, Inc.
PR Newswire
NEW YORK, July 29, 2019
NEW YORK, July 29, 2019 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Genomic Health, Inc. ("Genomic Health" or the "Company") (NASDAQ: GHDX) in connection with the proposed acquisition of the Company by Exact Science Corp. ("EXAS") (NASDAQ: EXAS). Under the terms of the agreement, Genomic Health shareholders will receive $27.50 in cash and $44.50 in EXAS shares for each GHDX share held, representing consideration of $72.00 per GHDX share.
If you own Genomic Health shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, please contact:
Joshua Rubin, Esq.
WeissLaw LLP
1500 Broadway, 16th Floor
New York, NY 10036
(212) 682-3025
(888) 593-4771
[email protected]
Visit our website
http://www.weisslawllp.com/genomic-health-inc/
Or follow us on Twitter @MarketsAlert
WeissLaw is investigating whether Genomic Health's Board acted to maximize shareholder value prior to entering into the acquisition agreement. Notably, at least one analyst set a target price of $77.00, or $5.00 above the per-share consideration. Additionally, according to the acquisition announcement, the deal will propel EXAS as a global leader in the industry, forming a "best-in-class commercial research, development and clinical organization, with enhanced scale and scope in cancer diagnostic." Moreover, the Company recently announced revenue of $114.1 million in the second quarter of 2019, representing an impressive 19.4% year-over-year growth when compared to the figures reported for the same quarter of the previous year.
Finally, upon completion of the transaction, EXAS shareholders will own 91% of the combined company, leaving a meager 9% for GHDX and its shareholders.
WeissLaw is investigating whether Genomic Health's Board conducted a fair process in agreeing to the proposed acquisition, whether the proposed acquisition undervalues the Company, and whether all material information related to the proposed acquisition is fully and fairly disclosed.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected]
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