Energy News / Shareholders Foundation, Inc.

NASDAQ:RXDX Investor Alert: Lawsuit Filed in Effort to Halt the Takeover of Ignyta Inc

Via: ReleaseWire

Updated 12:00 PM CST, Mon, January 29,2018

A lawsuit was filed for investors in shares of Ignyta Inc (NASDAQ:RXDX) in connection with the proposed takeover and NASDAQ:RXDX stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 01/29/2018 -- The Shareholders Foundation announces that an investor, who currently holds shares of Ignyta Inc (NASDAQ: filed a lawsuit against the takeover of Ignyta Inc by Roche for $27.00 per share.

Investors inshares of Ignyta Inc (NASDAQ:RXDX) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The plaintiff alleges that the defendants breached their fiduciary duties owed to NASDAQ:RXDX stockholders by agreeing to sell Ignyta Inc cheaply via an unfair process to Roche.

On December 22, 2017, Roche (SIX: RO, ROG; OTCQX: RHHBY) and Ignyta, Inc. (NASDAQ: RXDX) announced they have entered into a definitive merger agreement for Roche to fully acquire Ignyta at a price of US$ 27.00 per share in an all-cash transaction.

However, plaintiff claims that the proposed consideration NASDAQ: RXDX shareholders will receive is grossly inadequate and undervalues Ignyta, Inc. Indeed, at least one analyst has set the high target price for NASDAQ:RXDX shares at $31.00 per share. In addition, the plaintiff alleges that the process is also unfair NASDAQ: RXDX stockholders.

Those who are current investors in Ignyta Inc (NASDAQ:RXDX) shares have certain options and should contact the Shareholders Foundation.

Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com

For more information on this press release visit:
http://www.sbwire.com/press-releases/nasdaqrxdx-investor-alert-lawsuit-filed-in-effort-to-halt-the-takeover-of-ignyta-inc-923284.htm

Media Relations Contact
Michael Daniels
858-779-1554
Email: Click to Email Michael Daniels
Web: http://www.ShareholdersFoundation.com