NEW YORK, Aug. 22, 2016 (GLOBE NEWSWIRE) — Gainey McKenna & Egleston announces that a class action lawsuit hasbeen filed against Sequenom, Inc. (“Sequenom” or the “Company”) (Nasdaq:SQNM) in the United States District Court for the SouthernDistrict of California on behalf of current stock holders of Sequenom, seeking to pursue remedies under the Securities Exchange Actof 1934 (the “Exchange Act”).

On July 27, 2016, the Company and LabCorp issued a joint press release announcing that they entered into adefinitive agreement and plan of merger (the “Merger Agreement”) under which LabCorp would acquire all of the outstanding shares ofSequenom in a cash tender offer for $2.40 per share (the “Tender Offer), representing a total enterprise value of approximately$371 million, including net indebtedness. The press release further states that the Board approved the Merger Agreement and theterms of the Tender Offer, and recommends that the Company’s stockholders tender their shares. The Tender Offer commenced on August9, 2016, and is scheduled to expire at 12:01 a.m. Eastern time on September 7, 2016 (the “Expiration Date”), unless the TenderOffer is extended.

The Complaint alleges that the Proposed Transaction is the result of an unfair process and provides theCompany’s stockholders with inadequate consideration. The Complaint alleges that inadequacy of the $2.40 per share Tender Offerprice is evidenced by the fact that just over a year before the Proposed Transaction was announced, Sequenom shares traded in the$4.00 per share range. The Complaint also alleges that Sequenom has introduced new products, expanded its market reach and executeda corporate restructuring strategy that resulted in a substantial financial turnaround. However, the Complaint alleges that theBoard, knowing that the inadequate price and opportunistic timing of the Proposed Transaction would draw serious interest fromother potential buyers, and in an effort to ensure that the Proposed Transaction is consummated, agreed to include certainprovisions in the Merger Agreement that unreasonably inhibit potential third party bidders from launching topping bids, including:(i) a strict no-solicitation provision that severely constrains the Individual Defendants’ ability to communicate with potentialbuyers who wish to submit or have submitted unsolicited alternative proposals; (ii) an information rights provision that providesLabCorp with unrestricted access to information about other potential bids, gives LabCorp five business days to match any competingoffer that may be made, and gives LabCorp the perpetual right to attempt to match any competing bid; and (iii) a termination feeprovision requiring the Company to pay $10.6 million (or nearly 3% of the total value of the Proposed Transaction, based on the$371 million enterprise value of the transaction) to LabCorp in the event that the Company receives a higher offer and enters intoan alternative transaction.

If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna,Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at [email protected] or [email protected].

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