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Case Status:    DISMISSED    
On or around 11/13/2019 (Notice of voluntarily dismissal)

Filing Date: September 11, 2019

According to the Complaint, Genomic Health is a healthcare company, provides clinically actionable genomic information to personalize cancer treatment decisions in the United States and internationally. The company develops and commercializes genomic-based clinical laboratory services that analyze the underlying biology of cancer, which allows physicians and patients to make individualized treatment decisions.

On July 28, 2019, Genomic Health and Exact Sciences announced that they had executed a definitive Agreement and Plan of Merger, pursuant to which Exact Sciences, through its wholly owned subsidiary Merger Sub, would acquire all the outstanding shares of common stock of Genomic Health in a mixed stock and cash whereby each share of Genomic Health would be converted into the right to receive (a) $27.50 in cash, without interest, and (b) a number of shares of common stock, par value $0.01 per share, of Exact Sciences equal to (i) 0.36854, if the average of the volume-weighted average prices per share of Exact Sciences Common Stock on the Nasdaq Stock Market for each of the fifteen consecutive trading days ending immediately prior to the closing date is equal to or greater than $120.75, (ii) an amount equal to the quotient obtained by dividing $44.50 by the measurement price if the measurement price is greater than $98.79 but less than $120.75, and (iii) 0.45043, if the measurement price is equal to or less than $98.79, less any applicable withholding taxes.

On August 30, 2019, Defendants caused the filing of a Form S-4 Registration Statement with the United States Securities and Exchange Commission in support of the Proposed Transaction. The Complaint alleges that the Registration Statement is materially misleading and incomplete. The Complaint further alleges that Defendants have breached their fiduciary duties to Genomic Health stockholders by, inter alia, failing to maximize the value stockholders received in exchange for their shares.

This case was voluntarily dismissed on November 13, 2019.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: GHDX
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 19-CV-05710
JUDGE: Hon. Vince Chhabria
DATE FILED: 09/11/2019
CLASS PERIOD START: 07/28/2019
CLASS PERIOD END: 09/11/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Brodsky & Smith, LLC (California)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available