San Diego Law Firm Robbins Umeda LLP Announces an Investigation of Illumina, Inc.
January 26 2012 - 3:22PM
Business Wire
Shareholder rights firm Robbins Umeda LLP has commenced an
investigation into possible breaches of fiduciary duty and other
violations of state law by members of the board of directors of
Illumina, Inc. (NASDAQ: ILMN) relating to the proposed acquisition
by Roche Holding AG. Concerned shareholders who would like more
information about their rights and potential remedies can contact
attorney Gregory E. Del Gaizo at 800-350-6003,
info@robbinsumeda.com or via the shareholder information form on
the firm's website.
Robbins Umeda LLP is investigating whether Illumina's Board is
acting in its shareholders' best interests concerning Roche's
recent offer to acquire the company. On January 25, 2011, Roche
announced that it is proposing to acquire all outstanding shares of
Illumina for $44.50 per share in cash through a tender offer.
Although Roche claims it has made multiple efforts to engage
Illumina, it states that the company has been unwilling to
participate in substantive discussions. Robbins Umeda LLP's
investigation focuses on whether Illumina's directors and officers
are acting in the best interests of the company's shareholders or
in their own interests in maintaining their positions at the
company.
Robbins Umeda LLP notes that a potentially appropriate course of
conduct for Illumina shareholders is to file a class action against
the company's Board of Directors to attempt to ensure that it
negotiates with Roche and other potential suitors in good faith and
in a way meant to maximize shareholder value.
Robbins Umeda LLP is a nationally recognized leader in
securities litigation and shareholder rights law. The firm
represents individual and institutional investors in shareholder
derivative and securities class action lawsuits, and has helped its
clients realize more than $1 billion of value for themselves and
the companies in which they have invested. For more information,
please go to http://www.robbinsumeda.com.
Press release link:
http://www.robbinsumeda.com/shareholders-rights-blog/illumina-inc/
Attorney Advertising. Past results do not guarantee a similar
outcome.
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