Life Tech Investor Sues To Block $13.6B Buyout

Law360, Wilmington (April 18, 2013, 9:49 PM EDT) -- A Life Technologies Corp. shareholder launched a putative class action Thursday aimed at blocking the biotechnology company's announced $13.6 billion buyout by Thermo Fisher Scientific Inc., claiming the deal shortchanges investors.

According to the complaint by shareholder David Shaev, while Life Tech is a leader in the profitable and growing field of genetic sequencing technologies, its directors failed to properly value the company and approved a sale on terms preferential to Thermo Fisher but detrimental to public investors.

“The board has abandoned the responsibilities it has...
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