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Clarient, Inc. Investors File Lawsuit Against Directors

  • If you are a current investor in Clarient, Inc. (NASDAQ:CLRT) common or preferred shares, you have certain options and should you contact the Shareholders Foundation, Inc.

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Lawsuit Overview

Company
Clarient, Inc.
Security
NASDAQ: CLRT

Case Name
Clarient Deal Case 10/29/2010
Type of Lawsuit
Mergers and Acquisition
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Summary

A Clarient investor filed a lawsuit in State Court alleging breaches of fiduciary duty arising out of the attempt to sell Clarient too cheaply to GE Healthcare.
According to the complaint the plaintiff alleges that the defendants breached their fiduciary duties owed to Clarient, Inc. (NASDAQ:CLRT) investors for trying to sell Clarient through a “grossly inadequate” offer.

On Friday, October 22, 2010, GE Healthcare, a unit of General Electric Company (NYSE: GE), and Clarient, Inc. (Nasdaq: CLRT) announced that they have entered into an agreement for GE Healthcare to acquire payable in cash all outstanding of Clarient at $5.00 per common share and $20.00 per preferred share. The transaction values Clarient at approximately $580 million, net of cash and investments as of June 30, 2010

Even though shares of Clarient (NASDAQ: CLRT), which traded at roughly $3.80 per share, increased in response to the takeover news by roughly $1 per share to $4.98, at least one analyst has set a price target of $6.00 per share for Clarient stock. In addition Clarient’s 12 month total revenue more than tripled from 2006 to 2009. Clarient reported Total Revenue of $27.72million in 2006, $42.99million in 2007, $73.74million in 2008, and $91.60million in 2009.