Omthera Investor Challenges $443M AstraZeneca Buyout

Law360, Wilmington (June 3, 2013, 7:30 PM EDT) -- An Omthera Pharmaceuticals Inc. shareholder launched a putative class action in Delaware Chancery Court on Friday aimed at blocking AstraZeneca PLC's planned buyout, saying the deal — worth up to $443 million — undervalues the company and its upcoming triglyceride treatment Epanova.

Barbara Wolfson alleges Omthera's directors breached their fiduciary duty by signing off on a deal that shortchanges the company's public investors and excludes them from the future growth promised by Epanova.

“The merger consideration offered by AstraZeneca is grossly unfair and inadequate because, among...
To view the full article, register now.