Cases
Cancer Genetics, Inc.
Merger
Overview
Overview
- Date:
- 8/24/2020
- Case Caption:
- Prentiss v. Cancer Genetics, Inc., et al.
- Stock Symbol:
- CGIX
- Company Name - Buyer:
- StemoniX, Inc.
- Class Period:
- FROM 3/23/2017 TO 4/2/2018
- Status:
- Filed
- Merger Announcement Date:
- 8/24/2020
- Filing Date:
- 11/30/2020
- Court:
- U.S. District Court: District of New Jersey
NEW YORK, August 24, 2020 – Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, has launched an investigation into whether the board members of Cancer Genetics, Inc. (NASDAQ: CGIX) breached their fiduciary duties or violated the federal securities laws in connection with the company’s merger with StemoniX, Inc.
On August 24, 2020, Cancer Genetics announced that it had signed an agreement to be acquired by StemoniX. At the close of the merger, stockholders of Cancer Genetics will collectively own approximately 22% of the new company, while StemoniX will own approximately 78% of the new company. The deal is scheduled to close in the fourth quarter of 2020.
Bragar Eagel & Squire is concerned that Cancer Genetics’ board of directors oversaw an unfair process and ultimately agreed to an inadequate merger agreement. Accordingly, the firm is investigating all relevant aspects of the deal and is committed to securing the best result possible for Cancer Genetics’ stockholders.
Case Updates
Case Files
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Prentiss v. Cancer Genetics, Inc., et al.