SAN DIEGO & LAKE FOREST, Ill.--(BUSINESS WIRE)--Shareholder rights law firm Robbins Arroyo LLP announces that purchasers of Akorn, Inc. (NasdaqGS: AKRX) have filed a class action complaint against the company's officers and directors for alleged violations of the Securities Exchange Act of 1934 between March 1, 2017 and February 26, 2018. Akorn, a specialty generic pharmaceutical company, develops, manufactures, and markets generic and branded prescription pharmaceuticals, over-the-counter consumer health products, and animal health pharmaceuticals in the United States and internationally.
View this information on the law firm's Shareholder Rights Blog: www.robbinsarroyo.com/akorn-inc-mar-2018
Akorn Accused of Jeopardizing Acquisition
On April 24, 2017, Fresenius SE Co. KGaA ("Fresenius") agreed to acquire Akorn, with the transaction expected to close by early 2018. Akorn subsequently discussed the company's compliance with U.S. Food and Drug Administration ("FDA") regulations in its public filings, noting that all of the company's FDA approved facilities received satisfactory status from the FDA. According to the complaint, however, the company failed to mention that Fresenius' acquisition of Akorn could be in jeopardy due to potential breaches of FDA data integrity requirements relating to product development at Akorn. On this news, Akorn's stock fell over 38% to close at $18.65 per share on February 27, 2018.
Akorn Shareholders Have Legal Options
If you would like more information about your rights and potential remedies, contact attorney Leonid Kandinov at (800) 350-6003, LKandinov@robbinsarroyo.com, 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.
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