In re Complete Genomics, Inc. Shareholder Litigation, Cons. C.A. No. 7888-VCL (Del. Ch. 2013).
Our firm, along with Latham & Watkins, defended Complete Genomics, Inc., and the members of its board of directors, in expedited litigation in the Court of Chancery against a stockholder class action challenging the two-step acquisition of Complete Genomics by an affiliate of BGI-Shenzhen, Inc. After expedited proceedings on the plaintiffs’ motion to enjoin the transaction, the deal closed. The plaintiffs subsequently dismissed their case and sought a $1.4 million fee award for obtaining temporary preliminary relief. Following briefing and oral argument, the Court awarded less than one third of that amount.