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Two Additional Lawsuits Filed Seeking to Block BGI Buy of Complete Genomics

NEW YORK (GenomeWeb News) – Two additional lawsuits have been filed seeking to block BGI's $117.6 million purchase of Complete Genomics.

In documents filed with the US Securities and Exchange Commission on Tuesday, Complete Genomics disclosed the two new lawsuits, which follow two earlier lawsuits also seeking to stop the sale of the company to BGI.

One lawsuit, Chad Gerber v. Clifford A. Reid, et al, was filed on Sept. 28 in the Delaware court of Chancery. Another lawsuit, Saba Saleemi v. Complete Genomics, Inc., et al, was filed on Oct. 1 also in the Delaware Court of Chancery.

In addition to Complete Genomics, its directors and BGI are named as defendants in both cases, which allege breach of fiduciary duties. Both lawsuits seek, among other things, a preliminary and permanent injunction against the deal. They also seek class action status.

Complete Genomics and BGI said at the time it was announced that the acquisition is expected to be completed in early 2013.

In Wednesday afternoon trading on the Nasdaq, Complete Genomics' shares were flat at $3.10.

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