The firm is selling BioServe to Reprocell as part of Cancer Genetics' transformation and strategic plan to bring itself to profitability.
The lawsuits allege the company made false and/or misleading statement and/or failed to disclose information that was pertinent to investors.
The firm is in the midst of evaluating its strategic options and has hired Raymond James to assist in the process, which could include the sale of the firm, it said.
The company said that an effort by a group of shareholders to oust the company's management may impact the strategic review process.
The company said it is considering all transactions that would boost shareholder value including a merger or sale of its assets.
NEW YORK (GenomeWeb) – Nanosphere said after the close of the market on Thursday that it is exploring potential strategic alternatives and has hired Jefferies as an advisor.
NEW YORK (GenomeWeb News) – Sequenom said after the close of the market on Monday that its board has authorized a "review of potential strategic alternatives" for its Genetic Analysis segment.
NEW YORK (GenomeWeb News) – Multiplex instrument developer Axela today announced the hiring of investment bank AmeriTech Advisors to explore strategic opportunities for the firm.
By a GenomeWeb staff reporter
NEW YORK (GenomeWeb News) – SQI Diagnostics today said that it has established a special committee to review strategic alternatives for the firm, which could include a possible merger or sale.
NEW YORK (GenomeWeb News) – Complete Genomics is laying off 55 employees in order to reduce its cash burn and has hired a financial advisor to explore strategic alternatives, the company said today.
Lawmakers have asked four direct-to-consumer genetic testing companies to explain their privacy policies and security measures, according to Stat News.
The Trump Administration has proposed a plan to reorganize the federal government, the Washington Post reports.
In Science this week: genetic overlap among many psychiatric disorders, and more.
The Economist writes that an increasing number of scientific journals don't do peer review.