Don't know what to make of this.
Tuesday February 13, 9:51 pm Eastern Time
PerkinElmer sues Genomic to block "transaction"
WILMINGTON, Del., Feb 13 (Reuters) - The high technology company PerkinElmer Inc. (NYSE:PKI - news) of Boston, sued Genomic Solutions Inc. (NasdaqNM:GNSL - news), its chief executive Jeffrey Williams, and its directors, seeking to block a ``proposed transaction.''
The lawsuit was filed under seal late on Monday in the Delaware Court of Chancery, and no details about the underlying issue in the case or the reason for the sealing are available.
But in court information papers, PerkinElmer asked for ``injunctive relief relating to rights of stockholder under certificate of incorporation and contract'' and an ``injunction against proposed transaction.''
The suit, which also names EXI Inc. as a defendant, seeks an expedited process.
PerkinElmer operates in four business segments: life sciences, fluid sciences, optoelectronics, and instruments.
Genomic, of Ann Arbor, Michigan, makes instruments and software used to determine the activity level of genes and to characterize proteins. It says its products allow for more rapid and less expensive drug discovery.
The company is scheduled to release fourth quarter earnings before the market opens on Thursday. In January, Genomic said it expected to ``meet or exceed its revenue goal'' for the quarter and for the fiscal year ended Dec. 31.
A motion to unseal the court filings is expected to be filed on Wednesday by attorney David Finger, representing media interests.
A spokeswoman for Genomic said she was unable to comment because the company did not have enough information. |
