| Board of Monogram Biosciences, Inc. Investigated by Levi & Korsinsky LLP |
|
|
|
| Written by Globe NewsWire | |
| Wednesday, 24 June 2009 | |
|
New York, New York - Levi & Korsinsky ("L&K") is investigating the Board of Directors of Monogram Biosciences, Inc. ("Monogram" or the "Company") (Nasdaq:MGRM) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Laboratory Corporation of America Holdings ("Labcorp") (NYSE:LH). Under the terms of the agreement, Monogram stockholders will receive $4.55 in cash for each share of Monogram they own for a total deal value of approximately $155 million, including debt.
The price appears unfair given that Monogram shares traded over $5.00 per share as recently as September 2008 and at $7.20 per share in August 2008 (on a split adjusted basis) and at least one analyst set a $6.00 price target for Monogram shares. Monogram is a life science company that develops molecular diagnostic products for the treatment of infectious diseases, cancer, and other diseases in the United States. The Company had revenues of approximately $43 million for fiscal year 2007 and $62 million for fiscal year 2008. If you own common stock in Monogram and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/mgrm1.html. Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation. CONTACT: Levi & Korsinsky, LLP |
| < Prev | Next > |
|---|
