Akorn Comments on Favorable Court Order
AKORN (AKRX)
Last akorn earnings: 10/31 07:00 am
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Source: GlobeNewswire
LAKE FOREST, Ill., March 01, 2019 (GLOBE NEWSWIRE) -- Akorn, Inc. (Nasdaq: AKRX) announced today that the Delaware Court of Chancery has denied a request by Fresenius Kabi AG to bring a fraud claim against Akorn. On February 20, Fresenius filed a proposed amended counterclaim seeking to add a new claim for fraud to its existing request for contract damages associated with the termination of the merger agreement with Akorn last year. The Court of Chancery denied Fresenius's motion on February 28, noting that "Fresenius did not previously assert a claim for fraud, and the liability phase of the case has concluded. Fresenius could have asserted a claim for fraud at the outset of the case, or amended its pleadings during discovery or before trial. The parties chose to litigate breach of contract claims. It is too late now to introduce a new theory of liability." “Akorn believes Fresenius’s remaining request for contractual damages is without merit, and we will continue to vigorously
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