The Law Office of Robbins Umeda LLP
Announces an Investigation of Genoptix, Inc.
December 07, 2010 03:45 PM Eastern Time
SAN DIEGO--(EON: Enhanced Online News)--Robbins Umeda LLP has commenced an investigation into
possible breaches of fiduciary duty and other violations of the law by certain officers and directors at Genoptix, Inc.
("Genoptix" or the "Company") (NASDAQ: GXDX). Genoptix provides specialized laboratory service that focus on
delivering diagnostic services in the United States. The Company was founded in 1999 and is based in Carlsbad,
Robbins Umeda LLP's investigation concerns whether the Company's directors and officers damaged Genoptix by
causing or allowing it to issue improper statements regarding the Company's business and financial results.
Specifically, our investigation concerns whether certain of Genoptix's directors and officers touted the Company's
approach to hematology and oncology testing and diagnostics, while failing to disclose that Genoptix's business
model was not working and was actually causing the Company to lose market share.
On May 6, 2010, Genoptix issued a press release announcing first quarter 2010 financial results far below
consensus. Upon this news, the Company's value dropped more than 23% in one day, from a closing price of
$36.26 per share on May 6, 2010, to a closing price of $27.89 on May 7, 2010. Then, on June 16, 2010, Genoptix
issued a press release providing a first look at its second quarter 2010 performance and updating its guidance for the
full year 2010. In the press release, the Company reduced its guidance to $210 million, down from previous
guidance of $235 to $240 million. On this news, Genoptix's value fell an additional 25%, from a closing price of
$22.88 per share on June 15, 2010, to a closing price of $17.19 on June 16, 2010.
If you are a shareholder of Genoptix, plan to continue to hold your shares, and would like more information about
your rights as a shareholder, please contact attorney Gregory E. Del Gaizo at 800-350-6003 or by e-mail at
Robbins Umeda LLP represents individual and institutional shareholders in derivative, direct, and class action
lawsuits. The law firm's skilled litigation teams include former federal prosecutors, former defense counsel from top
multinational corporate law firms, and career shareholder rights lawyers. Robbins Umeda LLP has helped its clients
realize more than $1 billion of value for themselves and the companies in which they have invested. For more
information, please go to http://www.robbinsumeda.com.
Attorney Advertising. Past results do not guarantee a similar outcome. We invite you to contact us today to discuss
Robbins Umeda LLP
Gregory E. Del Gaizo, 800-350-6003