Genentech Inc. reported that it has been...

Genentech Inc. reported that it has been served with class-action shareholder lawsuits in both state and federal courts. The suits allege violations of the Securities and Exchange Act of 1934 and include other related claims. According to the South San Francisco-based company, the suits contain numerous factual inaccuracies. The genetic engineering company did not identify the plaintiffs and said it will vigorously defend itself.