(Bloomberg) -23Andme checking the bankruptcy of the judge, for a genetic test company, the Regeneron Pharmaceuticals offered to a second auction designed for an offer higher than an existing $ 256 million offer than an existing $ 256 million offer.
The US bankruptcy judge Brian Walsh asked lawyers to justify their boundaries from Regenon and 23andme, but he was criticized by the only bid owner, a California -based research institute supported by former 23and General Manager Anne Wojcicki.
Walsh should decide whether he will limit the auction to register to give Regeneron a final bid, but not Wojcicki and TTAM Research Institute. The rules recommended for the current auction are “inefficient ..
All parties, on Wednesday to determine how to revive the bid. A Federal Court in Louis held a hearing. Wojcicki appealed after the auction and argued that the proposal was unfairly closed to choose Regeneron.
Wojcicki’s lawyer Susheel Hedgeni, the current offer, “Regenerone is unilateral with a last look,” he said. “Absolutely not a flat playground.”
In court, the company’s bankruptcy lawyer Christopher Hopkins, last month’s auction took three days, both sides 23 and accused their opponents of unjustly preferred.
Later, TTAM and Wojcicki submitted a “much higher” proposal from Regeneron. 23Andme proposed a new, last offer tour with the current boundaries that Regeneron later accepted, but opposed by Wojcicki.
Hopkins can cancel the $ 256 million offer without limits. This means that there will be no more offers to allow TTAM and Wojcicki to get 236 million dollars for 236 million dollars, because this was the last binding offers before the end of the auction.
A wave of customers and government officials demanded that 23 and customers to protect the genetic data created by collecting salivary examples. Both proposals promised to comply with the privacy policy of 23andme, which enabled customers’ personal information to be deleted upon request.
23Andme, more than 15 million customers by providing genetic tests about medical and nobles by providing sustainable profit after producing sustainable profit after applying for bankruptcy. Approximately 550,000 people subscribed to two main services of the company, which was not enough to keep the company alive. Lemonaid Health, one of these services, was not part of the sale and said in a statement that he would be injured.
In the months that increase the bankruptcy, 23andme tried to withdraw a recipient while struggling to end a classroom case for 2023 data violations that provide access to customer information to computer pirates. The company will try to solve these claims as part of bankruptcy.
The case, Missouri’s Eastern Region Bankruptcy Court numbered 25-40976 23andme Holding Co.
-Help from the Salon Hall.
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