Suits Force Celera's Hand On $344M Merger With Quest

Law360, New York (April 18, 2011, 7:11 PM ET) -- Celera Corp. took a step back Monday from its pending $344 million merger with Quest Diagnostics Inc., agreeing to allow other buyers to enter the race after a slew of class actions in California and Delaware accused Celera's board of selling the company short.

The settlement officially closes six putative class actions against the merging entities filed by a number of investor groups, including a consolidated action composed of three individual suits in Delaware state court and a consolidated action composed of three individual suits in...
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