Complete Genomics Shareholder Alert: The Briscoe Law Firm and Powers Taylor, LLP Investigate Sale to BGI-Shenzhen
September 17 2012 - 3:25PM
Business Wire
Former United States Securities and Exchange Commission attorney
Willie Briscoe and the securities litigation firm of Powers Taylor,
LLP are investigating the sale of Complete Genomics, Inc. (“GNOM”)
(NASDAQ: GNOM) to Chinese company BGI-Shenzhen for shareholders.
The proposed transaction is a cash deal whereby Complete Genomics
shareholders will receive $3.15 for each share of GNOM stock owned,
well below the 52-week high of $7.73 per share and at least one
analyst’s estimated value of $5.00 per share.
There is no cost or fee to you, so if you are an affected
investor and want to learn more about the lawsuit or join the
action, contact Patrick Powers at Powers Taylor, LLP, toll free
(877) 728-9607, via e-mail at patrick@powerstaylor.com, or Willie
Briscoe at The Briscoe Law Firm, PLLC, (214) 706-9314, or via email
at WBriscoe@TheBriscoeLawFirm.com.
The Complete Genomics buyout investigation centers on whether
GNOM shareholders are receiving adequate compensation for their
shares in the buyout, whether the transaction undervalues GNOM
stock, and whether GNOM’s board attempted to obtain the highest
share price for all shareholders prior to agreeing to the deal.
Notably, at least one analyst with Yahoo! Finance has estimated
that the true inherent value of the GNOM is as high as $5.00 per
share, well above the proposed sale price. “Because the proposed
price appears to undervalue the shares, we want to ensure that the
transaction is fair for shareholders. Our lawsuit will seek to
obtain the highest possible share price for all shareholders,” said
shareholder rights attorney Willie Briscoe.
The Briscoe Law Firm, PLLC is a full service business litigation
and shareholder rights advocacy firm with more than 20 years of
experience in complex litigation and transactional matters.
Powers Taylor, LLP is a boutique Dallas litigation law firm that
handles a variety of complex business litigation matters, including
claims of investor and stockholder fraud, shareholder oppression,
shareholder derivative suits, and security class actions.
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