NEW YORK, Nov. 12, 2020 /PRNewswire/ -- WeissLaw LLP is investigating possible breaches of fiduciary duty and other violations of law by the board of directors of Cancer Genetics, Inc. ("CGIX" or the "Company") (NASDAQ: CGIX) in connection with the Company's proposed merger with privately-held StemoniX, Inc. ("StemoniX"). Under the terms of the merger agreement, CGIX will acquire all of the outstanding capital stock of StemoniX in exchange for a number of shares of CGIX representing approximately 78% of CGIX's outstanding common stock. The combined company will continue to trade on the NASDAQ, with StemoniX becoming a wholly-owned subsidiary of CGIX. Upon closing of the proposed merger, CGIX's current stockholders will own just 22% of the combined company.
If you own CGIX shares and wish to discuss this investigation or have any questions concerning this notice or your rights or interests, visit our website:
Or please contact:
Joshua Rubin, Esq.
1500 Broadway, 16th Floor
New York, NY 10036
WeissLaw is investigating whether CGIX's board acted in the best interest of CGIX's public stockholders in agreeing to the proposed transaction, whether the deal's equity split is fair to CGIX stockholders, and whether all information regarding the sales process undertaken by the board and financial analyses supporting the transaction is fully and fairly disclosed to CGIX's public stockholders.
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
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SOURCE WeissLaw LLP