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Fresenius SE & Co. KGaA
Legal Proceedings Report • Apr 23, 2018
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Legal Proceedings Report
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Ad-hoc | 23 April 2018 16:53
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
Fresenius SE & Co. KGaA: Akorn, Inc. sues Fresenius for consummation of merger agreement after its termination by Fresenius
23-Apr-2018 / 16:53 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
Akorn, Inc. sues Fresenius for consummation of merger agreement after its termination by Fresenius
Akorn, Inc. filed a lawsuit today against Fresenius at the Court of Chancery in Delaware, USA, for the consummation of the merger agreement.
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 FDA 1 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,
represented by Fresenius Management SE,
The Management Board
Bad Homburg v.d.H., April 23, 2018
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Contact:
Markus Georgi
Senior Vice President Investor Relations
T: +49 (0) 6172 608-2485
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End of note
23-Apr-2018 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de
| Language: | 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: | [email protected] |
| Internet: | www.fresenius.com |
| ISIN: | DE0005785604, DE000A2DANS3 |
| WKN: | 578560 , A2DANS |
| Indices: | DAX |
| Listed: | Regulated Market in Dusseldorf, Frankfurt (Prime Standard), Munich; Regulated Unofficial Market in Berlin, Hamburg, Hanover, Stuttgart, Tradegate Exchange; Luxemburg |
| End of Announcement | DGAP News Service |