NEW YORK, Sept. 7, 2016 /PRNewswire/ -- Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the Southern District of California, case no. 3:16-cv-02084, on behalf of shareholders of Sequenom, Inc. ("Sequenom" or the "Company") (NasdaqGS: SQNM) who held Sequenom securities and have been harmed by Sequenom's and its board of directors' (the "Board") alleged violations of Sections 14(d)(4), 14(e), and 20(a) of the Securities Exchange Act of 1934 (the "Exchange Act") and of the United States Securities and Exchange Commission ("SEC") Rule 14d-9 in connection with the sale of the Company to Laboratory Corporation of America Holdings ("LabCorp").
On July 26, 2016, the Company LabCorp and its wholly-owned subsidiary, Savoy Acquisition Corp. ("Merger Sub") entered into an Agreement and Plan of Merger ("Merger Agreement") under which LabCorp, through Merger Sub, commenced a tender offer on August 9, 2016 ( "Proposed Transaction"). 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.
If you wish to obtain information concerning this action or view a copy of the complaint, you can do so by clicking here: www.faruqilaw.com/SQNMnotice.
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 (the "14D-9") 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.
Plaintiff is represented by Faruqi & Faruqi, LLP, a law firm with extensive experience in prosecuting class actions, and significant expertise in actions involving corporate fraud. Faruqi & Faruqi, LLP, was founded in 1995 and the firm maintains its principal office in New York City, with offices in Delaware, California, and Pennsylvania.
If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from today. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact:
Nadeem Faruqi, Esq.
James M. Wilson, Jr., Esq.
FARUQI & FARUQI, LLP
685 3rd Avenue, 26th Floor
New York, NY 10017
Tel.: (212) 983-9330
Fax: (212) 983-9331
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SOURCE Faruqi & Faruqi, LLP