Fresenius SE & Co. KGaA: Akorn, Inc. sues Fresenius for consummation of merger agreement after its termination by Fresenius
Fresenius SE & Co. KGaA / Key word(s): Mergers & Acquisitions/Legal Matter
Akorn, Inc. sues Fresenius for consummation of merger agreement after its termination by Fresenius
Akorn, Inc. argues that Fresenius was obliged to close the transaction because all closing conditions of the merger agreement, except FTC clearance, were met.
Fresenius believes that the lawsuit is without foundation, because Akorn failed to fulfill several closing conditions. Among others, Fresenius' independent investigation found material breaches of FDA1 data integrity requirements relating to Akorn's operations. Fresenius will take all necessary and appropriate measures to vigorously contest the claims.
Fresenius does not intend to provide further updates as the lawsuit proceeds.
1 FDA: Food and Drug Administration
Fresenius SE & Co. KGaA,
Bad Homburg v.d.H., April 23, 2018
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