SAN DIEGO, July 27, 2016 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP has launched an investigation into whether the board members of Sequenom, Inc. (NASDAQ: SQNM) breached their fiduciary duties in connection with the proposed sale of the Company to Laboratory Corporation of America Holdings (NYSE: LH).
Additional Information: Sequenom is a life sciences company that develops and commercializes molecular diagnostics testing services for the women's health and oncology markets in the United States and internationally.
On July 27, 2016, Sequenom announced it had signed a definitive merger agreement with Laboratory Corporation. Under the terms of the agreement, Sequenom stockholders will receive $2.40 per share in cash.
The investigation concerns whether the Sequenom board failed to satisfy their duties to the Company shareholders, including whether the board adequately pursued alternatives to the acquisition and whether the board obtained the best price possible for Sequenom shares of common stock. Nationally recognized Johnson & Weaver is investigating whether the proposed deal price represents adequate consideration. The 52-week high for Sequenom stock is $2.99.
If you are a shareholder of Sequenom and believe the proposed buyout price is too low or you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker ([email protected]) at 619-814-4471. If emailing, please include a phone number where you can be reached.
About Johnson & Weaver, LLP: Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.