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Why Akorn Stock Crashed Yesterday

Margaret Patrick
Why Akorn Stock Crashed Yesterday

Akorn stock (AKRX) fell dramatically from $12.98 on September 28 to $5.36 on October 1 after the Delaware Court of Chancery ruled against the company and in favor of Fresenius. The ruling permits Fresenius to terminate the $4.8 billion merger agreement with Akorn. Fresenius has cited data integrity issues in regards to Akorn’s operations as one of the main reasons for the termination of the deal in its press release.