SHAREHOLDER ALERT: Bronstein, Gewirtz & Grossman, LLC Notifies Investors of Class Action Against Akorn, Inc. (AKRX) and Lead Plaintiff Deadline: August 21, 2017
NEW YORK, NY / ACCESSWIRE / July 11, 2017 / Bronstein, Gewirtz & Grossman, LLC notifies investors that a class action lawsuit has been filed on behalf of common stock shareholders of Akorn, Inc. ("Akorn" or the "Company") (AKRX) in connection with the proposed sale of the Company to German based Fresenius Kabi AG ("Parent") through Parent's wholly-owned subsidiary, Quercus Acquisition, Inc. ("Merger Sub," and together with Parent, "Fresenius"), announced on April 24, 2017 (the "Complaint"). Such investors are encouraged to join this case by visiting the firm's site: http://www.bgandg.com/akrx.
On April 24, 2017, Akorn revealed that it had signed a definitive merger agreement with Fresenius Kabi, and included in the terms of the agreement, Akorn shareholders will receive $34 in cash for each share of common stock held (the "Proposed Transaction").
This class action seeks to recover damages against Defendants for alleged violations of the federal securities laws under the Securities Exchange Act of 1934.
The Complaint alleges that Defendants issued materially incomplete disclosures in a proxy statement (the "Proxy Statement") filed with the United States Securities and Exchange Commission on May 22, 2017 to secure shareholder support for the Proposed Transaction. The Complaint continues to allege that the Proxy Statement recommended that Akorn shareholders vote in favor of the Proposed Transaction and omitted substantial information essential for shareholders to make an informed decision regarding the Proposed Transaction, including information about Akorn's financial projections, the analyses performed by Akorn's financial advisor, and the background of the Proposed Transaction. The Complaint seeks injunctive and equitable relief and damages on behalf of Akorn common stock shareholders.
A class action lawsuit has already been filed. If you wish to review a copy of the Complaint, you can visit the firm's site: http://www.bgandg.com/akrx, or you may contact Peretz Bronstein, Esq. or his Investor Relations Analyst, Yael Hurwitz of Bronstein, Gewirtz & Grossman, LLC at 212-697-6484. Akorn shareholders have until August 21, 2017 to request that the Court appoint you as lead plaintiff. Your ability to share in any recovery doesn't require that you serve as a lead plaintiff.
Bronstein, Gewirtz & Grossman, LLC is a corporate litigation boutique. Our primary expertise is the aggressive pursuit of litigation claims on behalf of our clients. In addition to representing institutions and other investor plaintiffs in class action security litigation, the firm's expertise includes general corporate and commercial litigation, as well as securities arbitration. Attorney advertising. Prior results do not guarantee similar outcomes.
Contact:
Bronstein, Gewirtz & Grossman, LLC
Peretz Bronstein or Yael Hurwitz
212-697-6484 | info@bgandg.com
SOURCE: Bronstein, Gewirtz & Grossman, LLC
