Gainey McKenna & Egleston Announces A Class Action Lawsuit Has Been Filed Against Akorn, Inc. (AKRX)


NEW YORK, June 02, 2017 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Akorn, Inc. (“Akorn” or the “Company”) (NASDAQ:AKRX) in the United States District Court for the Middle District of Louisiana for violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (“Exchange Act”) in connection with the merger between Akorn and Fresenius Kabi AG (“Parent”) through Parent’s wholly-owned subsidiary, Quercus Acquisition, Inc. (“Merger Sub,” and together with Parent, “Fresenius”).  Pursuant to the terms of the Merger Agreement, Fresenius will acquire all of the outstanding shares of Akorn common stock for $34.00 per share in cash.

On May 22, 2017, the Company filed a proxy statement (the “Proxy Statement”) with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction.  According to the Complaint, the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.

If you wish to join the litigation, or to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.