An investor in NASDAQ:SQNM shares filed a lawsuit against the buyout of Sequenom, Inc.
Investors who purchased shares of Sequenom, Inc. (NASDAQ:SQNM) and currently hold any of those NASDAQ:SQNM shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:SQNM stockholders by agreeing to sell Sequenom, Inc. too cheaply via an unfair process to Laboratory Corporation of America Holdings.
On July 27, 2016, Laboratory Corporation of America Holdings and Sequenom, Inc. (NASDAQ:SQNM) announced that they have entered into an agreement and plan of merger under which Laboratory Corporation of America Holdings would acquire all of the outstanding shares of Sequenom in a cash tender offer for $2.40 per share, or an equity value of $302 million, which represents a total enterprise value of approximately $371 million, including net indebtedness.
However, plaintiff claims that the proposed consideration NASDAQ:SQNM shareholders will receive is grossly inadequate and undervalues Sequenom, Inc. Indeed, in 2015 NASDAQ:SQNM shares reached $4.59 per share. In addition, the plaintiff alleges that the process is also unfair to Sequenom, Inc stockholder.
On September 1 2016, NASDAQ:SQNM shares closed at $2.40 per share.
Those who are current investors in NASDAQ:SQNM shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North – Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com