An investor in NASDAQ: GPRO shares filed a lawsuit against directors in effort to block the proposed acquisition of Gen-Probe Incorporated by Hologic, Inc at $82.75 per share
Investors who purchased shares of Gen-Probe Incorporated (NASDAQ:GPRO) prior to April 30, 2012 and currently hold any of those NASDAQ:GPRO shares have certain options and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 – 1554.
The plaintiff alleges that defendants breached their fiduciary duties owed to NASDAQ:GPRO stockholders arising out of the attempt to sell Gen-Probe Incorporated at an unfair price via and unfair process.
On April 30, 2012, Hologic, Inc.and Gen-Probe Incorporated announced that their Boards of Directors have approved an agreement under which Hologic will acquire all of the outstanding shares of Gen-Probe for $82.75 per share in cash, or a total enterprise value of approximately $3.7 billion.
However the plaintiff claims that the $82.75offer is unfair to NASDAQ:GPRO stockholders since it does not reflect its recent success and potential for future growth. In fact, NASDAQ:GPRO shares traded as high as $86.66 per share on May 18, 2011 and Gen-Probe’s financial performance increased in recent years. Gen-Probe’s annual Revenue rose from $472.69 in 2008 to $576.23million in 2011.
Those who are current investors in Gen-Probe Incorporated (NASDAQ:GPRO) and purchased their NASDAQ:GPRO shares prior to the announcement, have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North – Suite 423
92108 San Diego