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...
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