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Certain Investors Seek Injunction against Sale of Beckman Coulter

By a GenomeWeb staff reporter

NEW YORK (GenomeWeb News) – Plaintiffs have filed an amendment to their lawsuit against Beckman Coulter seeking to stop the diagnostic firm's board of directors from selling the company to Danaher.

The class action lawsuit is currently pending in the Superior Court of the State of California, County of Orange, and consolidates a number of cases against Beckman Coulter, its board, and certain officers.

Originally, the lawsuit alleged the defendants breached their fiduciary duties between July 2009 and the present, "based upon their failure to reasonably oversee product quality and manufacturing processes resulting in systemic quality control issues, regulatory violations, and recalls," Milberg and Weiser, co-lead counsels on the lawsuit, said in a statement. The plaintiffs alleged further that the company issued materially false and misleading statements about its finances.

Last year, Beckman Coulter disclosed issues with results from its Accutn1 troponin test and eventually had to recall the test.

The amended complaint seeks an injunction against the sale of Beckman Coulter, which announced earlier this week a proposed sale to Danaher valued at $83.50 per share, or $6.8 billion in total.

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