Shareholder Sues Life Science Co. Over $118M Merger

Law360, New York (September 25, 2012, 11:38 PM EDT) -- An investor in gene sequencing company Complete Genomics Inc. filed a putative class action on Thursday in California challenging a proposed $118 million takeover by the U.S. subsidiary of rival BGI-Shenzhen, saying Complete was being sold for a “fire-sale price.”

The deal, which was announced Sept. 17, values Complete at $3.15 a share. According to the Mountain View, Calif.-based company, the price is a 54 percent premium over Complete's closing price of $2.04 on June 4, the last day of trading before a previous temporary trading...
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