SAN DIEGO, CA / ACCESSWIRE / March 21, 2018 / The Shareholders Foundation, Inc. announces that a lawsuit was filed for certain investors in NASDAQ: AKRX shares over alleged securities laws violations by Akorn, Inc.
Investors who purchased shares of Akorn, Inc. (NASDAQ: AKRX) have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1 (858) 779-1554.
On April 24, 2017, Fresenius Kabi has agreed to acquire Akorn (NASDAQ: AKRX) for approximately $4.3 billion, or $34.00 a share, plus the assumption of approximately $450 million of debt1. The transaction was expected to close by early 2018.
On February 26, 2018, Fresenius SE & Co. KGaA announced it is "conducting an independent investigation, using external experts, into alleged breaches of FDA [Food and Drug Administration] data integrity requirements relating to product development at Akorn, Inc." Fresenius also stated the "consummation of the transaction may be affected if the closing conditions under the merger agreement are not met."
On March 8, 2018, a lawsuit was filed against Akorn, Inc. over alleged securities laws violations. The plaintiff claims that the defendants made materially false and/or misleading statements and/or failed to disclose that: Akorn's failure to comply with FDA data integrity requirements would jeopardize Fresenius's acquisition of Akorn, that Akorn lacked effective internal controls over financial reporting, and that as a result, Akorn's financial statements were materially false and misleading at all relevant times
Those who purchased Akorn, Inc. (NASDAQ: AKRX) shares should contact the Shareholders Foundation, Inc.
The Shareholders Foundation, Inc. is a professional portfolio legal monitoring and a settlement claim filing service, which does research related to shareholder issues and informs investors of securities class actions, settlements, judgments, and other legal related news to the stock/financial market. The Shareholders Foundation, Inc. is not a law firm. The information is provided as a public service. It is not intended as legal advice and should not be relied upon.
CONTACT:
Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
SOURCE: Shareholders Foundation, Inc.
