Clarient, Inc. Shareholder Investigation by Briscoe Law Firm Regarding the Buyout by General Electric Company
22 Outubro 2010 - 1:29PM
Business Wire
The Briscoe Law Firm, PLLC, founded by a former state prosecutor
and enforcement attorney for the United States Securities and
Exchange Commission, and the law firm of Powers Taylor, LLP are
investigating potential legal claims against the Board of Directors
of Clarient, Inc. (“Clarient” or “CLRT”) (NASDAQ: CLRT) related to
the proposed buy-out of Clarient by General Electric Company.
The definitive merger agreement, which was announced on October
22, 2010, involves a transaction valued at approximately $580
million under which Clarient shareholders will receive only $5.00
in cash for each share of Clarient/CLRT common stock they hold. The
transaction is structured as an all-cash tender offer by a
subsidiary of General Electric Company, followed by a second step
merger of the companies in which General Electric Company will
acquire any Clarient shares not purchased in the tender offer. The
transaction is currently expected to close in late 2010 or early
2011.
At least one analyst has set a target price for Clarient shares
at $6.00 per share. Based on this, the historical stock prices for
Clarient/CLRT shares, and other factors, the proposed transaction
may undervalue Clarient/CLRT shares and not be fair to Clarient
shareholders. The investigation relates to possible breaches of
fiduciary duty and other violations of state law by the Board of
Directors of Clarient for approving this transaction and whether
Clarient’s Board of Directors acted in the shareholders’ best
interests.
If you currently own shares of Clarient/CLRT and would like
additional information regarding this investigation, or if you have
information regarding the allegations involving this transaction,
please 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 toll free (877) 397-5991, or
via email at WBriscoe@TheBriscoeLawFirm.com. There is no cost or
fee to you.
The Briscoe Law Firm 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 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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