Friday, Oct 14, 1988
South San Francisco, Calif. -- October 14, 1988 --Genentech, Inc. has been served with class action shareholder lawsuits in both California State Court and Federal District Court in San Francisco.
The suits allege violations of the Securities and Exchange Act of 1934 and include other related claims. The plaintiffs in each suit are being represented by a San Diego, California law firm frequently involved in suits of this nature against other companies.
The suits contain numerous factual inaccuracies. Genentech is confident that the claims are without merit and intends to vigorously defend against them.
# # #