Sema4 Holdings Corp. (n/k/a GeneDx Holdings Corp.)
Robbins LLP served as co-lead counsel for the class of CM Life Sciences, Inc. stockholders who were entitled to redeem their stock in connection with the Company’s merger with a formerly privately held company, Mount Sinai Genomics, Inc. d/b/a/ Sema4 Holdings Corp. The stockholders claimed that the defendants breached their fiduciary duties by issuing a misleading proxy that impaired their decision on whether to redeem their CM Life Sciences, Inc. stock when it merged with Legacy Sema4. Post-merger, GeneDx reported less revenue than projected in the Proxy Statement issued in support of the merger, lowered revenue projections, and announced its exit from one of its core businesses. As a result, GeneDx’s share price fell below $0.50 per share. After extensive and contested discovery, the parties reached an agreement that resulted in a recovery to the class of $21 million.
In Re GeneDx de-SPAC Litigation, C.A. No. 2023-0140-PAF (Del. Ch. Dec. 2, 2024)
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