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...
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