Shareholders Sue To Block $8.5B Actavis, Warner Chilcott Deal

Law360, San Francisco (July 30, 2013, 8:11 PM EDT) -- Warner Chilcott PLC shareholders slammed the drugmaker with a class action in New Jersey federal court Tuesday to block its planned $8.5 billion merger with Actavis Inc., claiming Actavis' recent SEC filings violated the Exchange Act by omitting details shareholders need before voting on the deal.

The shareholders' suit details a litany of alleged omissions in the Form S-4 registration statement filed June 18 with the U.S. Securities and Exchange Commission by Actavis Limited, an Actavis subsidiary formed to handle the merger. In May, Actavis announced...
To view the full article, register now.