TTAM's offer for 23andMe is pending judicial approval, with a hearing scheduled next week. Various US states have raised objections relating to genetic data privacy concerns following a significant data breach while Susan Wojcicki was CEO. Despite these challenges, market confidence has surged, leading to a notable increase in share prices, suggesting optimism for recovery amid ongoing liability from the breach. Wojcicki's bid of 40 cents per share aims to acquire the company, which has seen declining revenue since its public listing in 2021.
Several US states have filed objections or lawsuits with the court expressing concerns about the transfer of customers' genetic data to a new company, though those may now be moot because of Wojcicki's continued involvement.
An expert hired by the court to review data privacy concerns over a sale of 23andMe submitted a report on Wednesday that noted Wojcicki had been chief executive when a 2023 data breach compromised 7 million customer accounts.
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