BALA CYNWYD, PA / ACCESSWIRE / July 9, 2020 / Law office of Brodsky & Smith, LLC announces that it is investigating potential claims against the Board of Directors of Invitae Corporation (NYSE:NVTA) ("Invitae" or the "Company") for possible breaches of fiduciary duty and other violations of federal and state law in connection with the agreement to merge with ArcherDX. Under the terms of the agreement, Invitae will issue 30 million shares of Invitae common stock to ArcherDX and pay $325 million in cash. Additionally, Invitae will issue up to an additional 27 million shares of Invitae payable in connection with the achievement of certain milestones. The overall transaction is valued at approximately $1.4 billion. Following the initial stock issuance, Invitae stockholders will control approximately 81% of the combined company.
The investigation concerns whether the Invitae Board breached its fiduciary duties to shareholders by failing to conduct a fair process and whether the merger undervalues Invitae relative to ArcherDX.
If you own shares of Invitae stock and wish to discuss the legal ramifications of the investigation, or have any questions, you may e-mail or call the law office of Brodsky & Smith, LLC who will, without obligation or cost to you, attempt to answer your questions. You may contact Jason L. Brodsky, Esquire, or Marc L. Ackerman, Esquire at Brodsky & Smith, LLC, Two Bala Plaza, Suite 510, Bala Cynwyd, PA 19004, visit http://www.brodskysmith.com/cases/invitae-corporation-nyse-nvta/, or call toll free 877-534-2590.
Brodsky & Smith, LLC is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.
SOURCE: Brodsky & Smith, LLC