Par Pharmaceutical Investor Sues To Halt $1.9B TPG Deal

Law360, Wilmington (July 25, 2012, 8:20 PM EDT) -- A Par Pharmaceutical Cos. Inc. shareholder launched a class action in Delaware court on Tuesday challenging private equity firm TPG Capital's $1.9 billion bid to take the generic-drug maker private, calling the offer inadequate and opportunistic.

Rena Nadoff alleged in a Delaware Chancery Court complaint that the deal is the result of a flawed process favoring TPG and that it comes at a time when Par Pharmaceuticals’ rosy future prospects are not reflected in its stock price.

The shareholder pointed to the company’s February acquisition of...
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