Genomic Health Investor Calls Exact Sciences Merger Unfair
Law360 (June 30, 2020, 9:08 PM EDT) -- A former Genomic Health Inc. investor blasted the company's planned $2.8 billion merger last year with fellow cancer treatment developer Exact Sciences Corp. as a sweetheart deal that undervalued the company, failed to disclose important information to investors and was agreed to by the controlling shareholder before terms were finalized.
Suzanne Flannery alleged Monday in her proposed class action suit in Delaware state court against Exact Sciences, Genomic, its executives, and others that the merger was pushed by hedge fund Baker Brothers and its owners and affiliated entities that agreed to "any" deal before terms were finalized.
"The Baker Brothers entities'...
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