Cases
Sequenom, Inc. (NASDAQ : SQNM)
Merger
Overview
Overview
- Date:
- 9/8/2016
- Company Name:
- Sequenom, Inc.
- Stock Symbol:
- SQNM
- Company Name - Buyer:
- LabCorp
- Class Period:
- FROM 8/9/2016
- Status:
- Closed/Complete
- Merger Announcement Date:
- 7/26/2016
- Court:
- U.S. District Court: District of Southern California
NEW YORK, September 8, 2016 – Bragar Eagel & Squire, P.C. announces that a class action lawsuit has been filed in the United States District Court for the California Southern District Court on behalf of all persons or entities who held Sequenom, Inc. (NYSE: SQNM) securities on August 9, 2016 (the “Class Period”).
On July 26, 2016, the Company LabCorp and its wholly-owned subsidiary, Savoy Acquisition Corp. entered into an Agreement and Plan of Merger under which LabCorp, through Merger Sub, commenced a tender offer on August 9, 2016. Following the completion of the tender offer, and subject to the terms and conditions of the Merger Agreement, Merger Sub will be merged with and into Sequenom, with Sequenom surviving as a wholly owned subsidiary of LabCorp.
Pursuant to the terms of the Merger Agreement, which was unanimously approved by the Board, Sequenom shareholders will receive $2.40 in cash per share for each share of Sequenom they own. The complaint claims that this offer is inadequate in light of the Company's recent financial performance and strong growth prospects and alleges that the Schedule 14D-9 Solicitation/Recommendation Statement provides materially incomplete and misleading information about the Company's financials, and the procedural fairness of the Proposed Transaction, in violation of Sections 14(d)(4), 14(e), and 20(a) of the Exchange Act.
If you held Joy securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.
On July 26, 2016, the Company LabCorp and its wholly-owned subsidiary, Savoy Acquisition Corp. entered into an Agreement and Plan of Merger under which LabCorp, through Merger Sub, commenced a tender offer on August 9, 2016. Following the completion of the tender offer, and subject to the terms and conditions of the Merger Agreement, Merger Sub will be merged with and into Sequenom, with Sequenom surviving as a wholly owned subsidiary of LabCorp.
Pursuant to the terms of the Merger Agreement, which was unanimously approved by the Board, Sequenom shareholders will receive $2.40 in cash per share for each share of Sequenom they own. The complaint claims that this offer is inadequate in light of the Company's recent financial performance and strong growth prospects and alleges that the Schedule 14D-9 Solicitation/Recommendation Statement provides materially incomplete and misleading information about the Company's financials, and the procedural fairness of the Proposed Transaction, in violation of Sections 14(d)(4), 14(e), and 20(a) of the Exchange Act.
If you held Joy securities during the Class Period, have information or would like to learn more about these claims, or have any questions concerning this announcement or your rights or interests with respect to these matters please contact Melissa A. Fortunato, Esq. by email at investigations@bespc.com, or telephone at (212) 355-4648, or by filling out the contact form below. There is no cost or obligation to you.