Fresenius Seeks $46M In Del. For Broken Merger Legal Fees
Law360 (August 19, 2019, 4:16 PM EDT) -- German drug and medical device maker Fresenius Kabi AG asked Delaware's Chancery Court late Friday for a $46 million litigation fee award against Akorn Inc., covering part of an alleged $123 million in “dead loss” expenses on an Akorn-induced, $4.3 billion merger meltdown last year.
The summary motion comes nearly 11 months after Vice Chancellor J. Travis Laster, in a 246-page opinion, concluded for the first time under Delaware law that actions by Akorn justified termination of the two companies’ merger, citing provisions of state corporation law recognizing the potential fatality of “material adverse effect” claims
Delaware’s Supreme Court upheld the...
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