NEW YORK, March 31, 2021 (GLOBE NEWSWIRE) -- Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, advises that a tender offer to acquire GenMark Diagnostics, Inc. (NASDAQ: GNMK) has commenced and reminds investors that the firm is investigating whether GenMark’s officers or directors breached their fiduciary duties or violated the federal securities laws in connection with the company’s pending sale to Roche Holding AG (Other OTC: RHHBY).
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On March 15, 2021, GenMark announced that it had signed an agreement to be acquired by Roche for approximately $1.8 billion. Pursuant to the merger agreement, GenMark stockholders will receive $24.50 in cash for each share of GenMark common stock owned. The deal is scheduled to close in the second quarter of 2021.
On March 25, 2021, Roche announced that it had commenced a cash tender offer for all outstanding shares of GenMark common stock. The tender offer period will expire at 12:00 midnight, Eastern Time, at the end of the day on Wednesday, April 21, 2021, unless the offer is extended.
Based on its review of recent filings with the U.S. Securities and Exchange Commission, Bragar Eagel & Squire is concerned that GenMark’s board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Among other things, the firm is concerned about whether GenMark’s board gave other potential buyers an adequate opportunity to submit a superior offer than the $24.50 per share ultimately offered by Roche. The firm is investigating all relevant aspects of the proposed deal and is committed to securing the best result possible for GenMark’s stockholders.
If you own shares of GenMark and are concerned about the proposed merger, or you are interested in learning more about the investigation or your legal rights and remedies, please contact Melissa Fortunato or Alexandra Raymond by email at email@example.com or telephone at (646) 860-9157, or by filling out this contact form. There is no cost or obligation to you.
About Bragar Eagel & Squire, P.C.:
Bragar Eagel & Squire, P.C. is a nationally recognized law firm with offices in New York and California. The firm represents individual and institutional investors in commercial, securities, derivative, and other complex litigation in state and federal courts across the country. For more information about the firm, please visit www.bespc.com. Attorney advertising. Prior results do not guarantee similar outcomes.