TPG's $2B Par Pharma Buyout Bid Harms Investors, Suit Says

Law360, New York (September 12, 2012, 8:18 PM EDT) -- A Par Pharmaceutical Cos. Inc. shareholder launched a class action Wednesday challenging private equity firm TPG Capital's $1.9 billion bid to take the generic-drug maker private, saying the deal was based on a flawed process favoring TPG and Par.

Saratoga Advantage Trust Health & Biotechnology Portfolio's suit, filed in New Jersey federal court, blasts the $50 per share deal, saying it was designed to make certain that the merger favored TPG and Par, and detrimental to shareholders. The buyout poses irreparable injury to shareholders, according to...
To view the full article, register now.