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Genetic Tech (GENE) plunges 20% following a management earthquake at its annual meeting. The...

Genetic Tech (GENE) plunges 20% following a management earthquake at its annual meeting. The trouble started when Genetic founder Mervyn Jacobson used his 29% stake to block the re-election of chairman Mel Bridges, with a motion to re-elect fellow director Huw Jones also failing. CEO Paul MacLeman then resigned, as did director Greg Brown and legal head David Sparling.
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