Rigrodsky & Long, P.A. announces that it is investigating potential legal claims against the board of directors (the Board) of Pacific Biosciences of California, Inc. (Pacific Biosciences or the Company) (NASDAQ GS: PACB) related to the Companys entry into an agreement to be acquired by Illumina, Inc. (Illumina) (NASDAQ GS: ILMN) in a transaction announced on November 1, 2018 (the Proposed Transaction).
On November 1, 2018, the Board caused Pacific Biosciences to enter into an agreement and plan of merger (the Merger Agreement) with Illumina. Pursuant to the terms of the agreement, shareholders of Pacific Biosciences will receive $8.00 in cash for each share of Pacific Biosciences common stock.
On December 5, 2018, Pacific Biosciences filed a preliminary proxy statement (Proxy Statement) with the United States Securities and Exchange Commission in connection with the Proposed Transaction, which recommends that Pacific Biosciences shareholders vote in favor of the Proposed Transaction. Rigrodsky & Long, P.A. is investigating possible violations of law related to the Proxy Statement, including whether the Proxy Statement omits material information with respect to the Proposed Transaction.
If you own common stock of Pacific Biosciences and purchased any shares before November 1, 2018, if you would like to learn more about this investigation, or if you have any questions concerning this announcement or your rights or interests, please contact Seth D. Rigrodsky or Gina M. Serra toll-free at (888) 969-4242, by e-mail at [email protected], or at https://www.rigrodskylong.com/offices-contact.
Rigrodsky & Long, P.A., with offices in Delaware, New York, and California, has recovered hundreds of millions of dollars on behalf of investors and achieved substantial corporate governance reforms in numerous cases nationwide, including federal securities fraud actions, shareholder class actions, and shareholder derivative actions.
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