ME INVESTIGATION NOTICE: 23andMe Holding Co.'s Board of Directors is Being Investigated; Current Shareholders are Urged to Contact BFA Law (Nasdaq:ME)

Core Viewpoint - Bleichmar Fonti & Auld LLP is investigating 23andMe Holding Co. regarding potential breaches of fiduciary duties by the board of directors and CEO Anne Wojcicki in relation to her efforts to acquire all outstanding shares of the company that she does not already own [1][3]. Investigation Details - On July 29, 2024, CEO Wojcicki made a non-binding proposal to acquire all shares of 23andMe not already owned by her or her affiliates [2]. - The Special Committee of the Board rejected this offer on August 2, 2024, citing lack of premium, absence of committed financing, and conditional nature of the proposal [3]. Board Resignation - On September 17, 2024, all independent directors of 23andMe resigned, expressing concerns over the lack of a fully financed and actionable proposal from Wojcicki that would benefit non-affiliated shareholders [3]. - The independent directors indicated a strategic disagreement with Wojcicki and highlighted her concentrated voting power as a reason for their resignation [3]. Legal Implications - BFA is concerned that the actions of the board and Wojcicki may constitute breaches of fiduciary duties, particularly in failing to prioritize company value and engaging in self-interested dealings [3]. - The firm aims to protect the interests of 23andMe shareholders and hold fiduciaries accountable for any breaches [3].