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Genentech shareholders accuse Roche of bad faith offer


NEW YORK Objections to Roche’s purchase of remaining shares of Genentech have surfaced as shareholders have accused the Swiss drug maker of abusing its power.

Shareholders have filed a lawsuit against Roche in a Delaware court, though the company has said its actions are legal.

Roche acquired a majority stake in Genentech in 1990. It offered to buy the remaining shares it doesn’t own Monday for $89 a share.

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