UPDATE 3-Fresenius alleges 'blatant fraud' at U.S. drugmaker Akorn [Reuters]
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Source: Reuters
Fresenius alleges 'blatant fraud' at U.S. drugmaker Akorn | Reuters 3 Min Read WILMINGTON, Del./NEW YORK (Reuters) - German healthcare group Fresenius ( FREG.DE ) alleged it uncovered “blatant fraud at the very top level” of U.S. generic drugmaker Akorn Inc ( AKRX.O ) after Fresenius agreed to acquire the company for $4.75 billion, according to a court filing made public late on Tuesday. Fresenius abandoned the merger agreement last month, and Akorn has sued in Delaware Court of Chancery to try to hold Fresenius to the deal. Shares of Akorn fell more than 8 percent in early trading Nasdaq on Wednesday to $13.57 per share. The stock has plummeted from more than $30 per share in February after Fresenius said it was investigating data integrity at Akorn, and warned it could end their merger agreement. Fresenius officially abandoned the $34 per share deal for Akorn in April. Akorn spokeswoman Jennifer Bowles said the company categorically disagreed with the allegations and intended to
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