Goldman, Exact, Baker Brothers Sued Over Genomic Health Merger (1)

Exact Sciences Corp. and Goldman Sachs & Co. were sued in Delaware by a former Genomic Health Inc. shareholder over the $2.8 billion merger last year between the two life sciences companies.

In addition to Exact and deal adviser Goldman, the Chancery Court complaint targets Genomic’s ex-directors and a group of funds affiliated with Baker Brothers Investments LP, which allegedly controlled Genomic before the $65-a-share transaction through its 46% stake and influence over the board.

The partly redacted 61-page suit, made public Monday, challenges the timing and structure of the merger, which closed in November.

It accuses the Baker Brothers ...