Akorn, Inc. (NASDAQ: AKRX)
On April 24, 2017 Defendants announced Akorn agreed to a merger with Fresenius SE & Co. KGaA (“Fresenius”).
Then, on February 26, 2018, Fresenius announced it is investigating Akorn’s alleged breaches of FDA data integrity requirements and that the merger’s consummation may be affected if the probe yielded evidence of wrongdoing.
This news drove the price of Akorn shares down $11.63, or over 38%, to close at $18.65 per share on February 27, 2018.
“Akorn investors have suffered enormous losses,” said Hagens Berman partner Reed Kathrein. “We’re focused on Defendants’ disclosures that may relate to the subject of the Fresenius investigation.”
Whistleblowers: Persons with non-public information regarding Akorn should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 510-725-3000 or email AKRX@hbsslaw.com.
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