Fresenius SE & Co. KGaA: Delaware Supreme Court upholds Fresenius' termination of merger agreement with Akorn
Delaware Supreme Court upholds Fresenius' termination of merger agreement with Akorn In the lawsuit by Akorn, Inc. against Fresenius for the consummation of the April 2017 merger agreement the Supreme Court in the U.S. state of Delaware today ruled in favor of Fresenius. As this is the highest Court in Delaware, no further appeal is possible.
Fresenius terminated the merger agreement due to Akorn's failure to fulfill several closing conditions. An independent investigation initiated by Fresenius had revealed, among other things, material breaches of FDA data integrity requirements relating to Akorn's operations. Akorn responded by suing in the Court of Chancery in Delaware for the consummation of the agreement but Akorn's law suit had been dismissed by the Court of Chancery of Delaware in the first instance as well as now in the second and last instance before the Delaware Supreme Court.
Fresenius SE & Co. KGaA, represented by Fresenius Management SE, The Management Board
Bad Homburg v.d.H., December 7, 2018 Contact: Markus Georgi Senior Vice President Investor Relations T: +49 (0) 6172 608-2485 email@example.com
End of note
07-Dec-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.deLanguage: English Company: Fresenius SE & Co. KGaA Else-Kröner-Straße 1 61352 Bad Homburg v.d.H.
Germany Phone: +49 (0)6172 608-2485 Fax: +49 (0)6172 608-2488 E-mail: firstname.lastname@example.org Internet: www.fresenius.com ISIN: DE0005785604 WKN: 578560 Indices: DAX Listed: Regulated Market in Dusseldorf, Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Hamburg, Hanover, Stuttgart, Tradegate Exchange; Luxembourg Stock Exchange End of Announcement DGAP News Service
755777 07-Dec-2018 CET/CEST