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If you purchased a significant amount of shares of this company you have certain options and for certain investors are short and strict deadlines running. Investors should contact the Shareholders Foundation, Inc.
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To have your information reviewed for options and to receive notifications about this case, please send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Lawsuit Overview
<p>According to a law firm a securities class action has been filed against Genelabs Technologies, Inc. (Nasdaq: GNLB), its Board of Directors and GlaxoSmithKline PLC (”Defendants”) on behalf of all securities purchasers of Genelabs Technologies, Inc. over the proposed acquisition of Genelabs Technologies, Inc. by GlaxoSmithKline PLC. The shareholders alleges that the prices is “unfair’.</p> <p> </p>
<p>According to the complaint the plaintiff alleges that in a proposed transaction, defendant GlaxoSmithKline PLC plans to acquire all the outstanding shares of Genelabs through a cash tender offer for an unfair price of $1.30 per share, valued at approximately $57 million. In addition the complaintalleges that the individual defendants, separately and together, in connection with the proposed Acquisition are knowingly or recklessly violating their fiduciary duties, including their duties of loyalty, good faith and independence owed to plaintiff and other public shareholders of Genelabs, or are aiding and abetting others in violating those duties.</p>