Saleemi v. Complete Genomics, Inc., et al.October 01, 2012
Newman Ferrara LLP Files Class Action Lawsuit on Behalf of Purchasers of Complete Genomics, Inc. Common Stock
NEW YORK--Oct. 1--Newman Ferrara LLP announced today that it filed a class action lawsuit in the Court of Chancery of the State of Delaware (Case No. 7920) on behalf of purchasers of the common stock of Complete Genomics Inc. ("Complete Genomics") concerning the proposed acquisition of Complete Genomics by BGI-Shenzhen.
On September 17, 2012, Complete Genomics announced that it had entered into an agreement and plan of merger to be acquired by BGI-Shenzhen in an all cash deal valued at approximately $117.6 million. Under the terms of the agreement, Complete Genomics’ shareholders will receive $3.15 for each share of Complete Genomics stock owned.
Newman Ferrara LLP’s lawsuit alleges that Complete Genomics’ Board of Directors has breached its fiduciary duties to act in the best interests of Complete Genomics’ shareholders and to take all necessary steps to ensure that Complete Genomics’ shareholders receive the maximum value readily available for their shares of Complete Genomics common stock.
Newman Ferrara maintains a multifaceted practice based in New York City with attorneys specializing in complex commercial and multi-party litigation with an emphasis on securities, ERISA, shareholder litigation, consumer fraud, and real estate.
Attorney: Roy Shimon
Tel: (212) 619-5400
Fax: (212) 619-3090