Shareholder rights law firm Robbins Arroyo LLP is investigating whether certain officers and directors of Akorn, Inc. (NasdaqGS: AKRX) breached their fiduciary duties to shareholders. In a landmark ruling last week, a Delaware Court determined that Fresenius SE could walk away from its $4.3 billion deal to buy pharmaceutical manufacturer Akorn. Soon after the parties signed the deal documents, Akorn’s financials slumped dramatically. When Fresenius found that Akorn had breached U.S. Food and Drug Administration data integrity requirements, the company terminated the deal due to Akorn’s “failure to fulfill several closing conditions.” The court agreed that Fresenius validly ended the merger agreement because Akorn’s regulatory compliance representations were false. On this news, Akorn’s shares plummeted over 58% to $5.36, their lowest level in seven years.
View this press release on the firm’s Shareholder Rights Blog: https://www.robbinsarroyo.com/akorn-inc-oct-2018/
Akorn Shareholders Have Legal Options
Concerned shareholders who would like more information about their rights and potential remedies can contact attorney Leonid Kandinov at (800) 350-6003, [email protected], or via the shareholder information form on the firm’s website.
Robbins Arroyo LLP is a nationally recognized leader in shareholder rights law. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits, and has helped its clients realize more than $1 billion of value for themselves and the companies in which they have invested. Sign up for our FREE portfolio monitoring service, Stock Watch.
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