An investigation on behalf of investors of Genomic Health, Inc. (NASDAQ: GHDX) in connection with the proposed takeover was announced and NASDAQ: GHDX stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 08/05/2019 -- An investigation was announced concerning whether the takeover of Genomic Health, Inc. is unfair to NASDAQ: GHDX stockholders.
Investors who purchased shares of Genomic Health, Inc. (NASDAQ: GHDX) and currently hold any of those NASDAQ: GHDX shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.
The investigation by a law firm concerns whether certain officers and directors of Genomic Health, Inc. breached their fiduciary duties owed to NASDAQ: GHDX investors in connection with the proposed acquisition.
Redwood City, CA based Genomic Health, Inc., a healthcare company, provides clinically actionable genomic information to personalize cancer treatment decisions in the United States and internationally.
On July 29, 2019, Exact Sciences Corp. (NASDAQ: EXAS) and Genomic Health, Inc. (NASDAQ: GHDX) announced that the companies have entered into a definitive agreement under which Exact Sciences will combine with Genomic Health for $72.00 per share in a cash and stock transaction valued at $2.8 billion.
However, given that NASDAQ: GHDX shares traded in the open market as high as $83.46 per share as recently as February 2019, the investigation concerns whether the offer is unfair to NASDAQ: GHDX stockholders. In addition, given that Felix and Julian Baker and certain funds advised by entities with whom they are affiliated, which collectively own approximately 25.3% of the outstanding shares of Genomic Health common stock, have already entered into agreements to vote in favor of the transaction, the investigation concerns whether the GNASDAQ: GHDX Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
Genomic Health, Inc. reported that its annual Total Revenue rose from $340.75 million in 2017 to $394.11 million in 2018 and that its Net Loss of $3.85 million in 2017 turned to a Net Income of $25.67 million in 2018.
Shares of Genomic Health, Inc. (NASDAQ: GHDX) closed on August 2, 2019, at $72.53 per share.
Those who are current investors in Genomic Health, Inc. (NASDAQ: GHDX) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com
About Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio monitoring and settlement claim filing service, , which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. Shareholders Foundation, Inc. is in contact with a large number of shareholders and offers help, support, and assistance for every shareholder. The Shareholders Foundation, Inc. is not a law firm. Referenced cases, investigation, and/or settlements are not filed/reached and/or related to Shareholders Foundation. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.