NEW YORK, June 19, 2018 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Foundation Medicine, Inc. ("FMI" or the "Company") (NASDAQ: FMI) in connection with the proposed acquisition of the Company by Swiss healthcare company Roche Holding AG ("Roche"). Under the terms of the agreement, FMI shareholders will receive $137.00 in cash for each FMI share they own.
WeissLaw is investigating whether FMI's Board acted to maximize shareholder value prior to entering into the agreement. Notably, according to Bloomberg, the deal "may be a disappointment to investors," and is unusual as three of Roche's best-selling drugs are expected to face competition from generics in the next few years. Moreover, the acquisition of FMI, a leader in molecular information and personalized cancer care, is a strategic transaction that Roche hopes will drive its treatment success rate. According to Daniel O'Day, CEO of Roche Pharmaceuticals, "[t]his is important to our personalised healthcare strategy as we believe molecular insights and the broad availability of high quality comprehensive genomic profiling are key enablers for the development of, and access to, new cancer treatments."
Given these facts, WeissLaw is investigating whether FMI's Board acted in the best interests of FMI's public shareholders to maximize shareholder value prior to entering into the agreement. If you own FMI shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at [email protected].
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at [email protected] or fill out the form on our website, http://www.weisslawllp.com/foundation-medicine-inc/
SOURCE WeissLaw LLP