GENELABS TECHNOLOGIES, INC.

Summary of Case: A securities class action has been filed against Genelabs Technologies, Inc. (Nasdaq: GNLB) ("Genelabs" or the "Company"), its Board of Directors and GlaxoSmithKline PLC ("Defendants") on behalf of all securities purchasers of Genelab. 

The complaint alleges that in a proposed transaction, defendant GlaxoSmithKline PLC plans to acquire all the outstanding shares of Genelabs through a cash tender offer for an unfair price of $1.30 per share (the "Proposed Transaction"), valued at approximately $57 million.   The complaint also alleges that the individual defendants, separately and together, in connection with the Proposed Transaction are knowingly or recklessly violating their fiduciary duties, including their duties of loyalty, good faith and independence owed to Plaintiff and other public shareholders of Genelabs, or are aiding and abetting others in violating those duties.