WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the Board of Directors of Ignyta Inc. (“RXDX” or the “Company”) (NASDAQ: RXDX) in connection with the proposed acquisition of the Company by Swiss drugmaker Roche Holding AG (“Roche”). Under the terms of the acquisition agreement, the Company’s shareholders will receive $27.00 in cash for each RXDX share they own.
WeissLaw is investigating whether RXDX’s Board acted to maximize shareholder value prior to entering into the agreement. Notably, at least one analyst set a target price of $31.00 per share.
Additionally, the acquisition is a strategic transaction from which Roche will benefit greatly. According to The Motley Fool, “[a] $2 billion deal for a clinical-stage biotech might seem like a lot, but this buyout could very well turn out to be a bargain for Roche. Despite the lack of a true late-stage clinical candidate, [RXDX]’s pipeline of early- to mid-stage cancer drugs are on the absolute cutting edge of their field.” In short, this transaction will expand and strengthen Roche’s oncology portfolio, and ultimately secure its position as a leader in anti-cancer therapies.
Further, this acquisition may provide some much-needed relief for Roche, as many of its top-selling treatments lose their patent protection.
Given these facts, WeissLaw is investigating whether RXDX’s Board acted in the best interests of RXDX’s public shareholders to maximize shareholder value prior to entering into the agreement. If you own RXDX shares and would like more information about your rights or our investigation, or if you have information to share with us, please contact Joshua Rubin by telephone at (888) 593-4771 or by email at firstname.lastname@example.org.
WeissLaw LLP has litigated hundreds of stockholder class and derivative actions for violations of corporate and fiduciary duties. We have recovered over a billion dollars for defrauded clients and obtained important corporate governance relief in many of these cases. If you have information or would like legal advice concerning possible corporate wrongdoing (including insider trading, waste of corporate assets, accounting fraud, or materially misleading information), consumer fraud (including false advertising, defective products, or other deceptive business practices), or anti-trust violations, please email us at email@example.com or fill out the form on our website, http://www.weisslawllp.com/ignyta-inc/