Protests Over $2.6B Sepracor Deal Begin To Roll In

Law360, New York (September 9, 2009, 6:28 PM EDT) -- Just days after Dainippon Sumitomo Pharma made a $2.6 billion play for Sepracor Inc., shareholders are firing back with litigation accusing the company's directors of breaching their fiduciary duty by failing to conduct the proper due diligence regarding the deal.

Stationary Engineers Local 39 Pension Trust Fund filed the suit in the Delaware Chancery Court Sept. 8, alleging that Sepracor, President and CEO Adrian Adams and former CEO Timothy Barberich, among others, were trying to gyp shareholders out of their fair share.

“The proposed merger is...
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