Gentium Investors Sue Over $1B Jazz Pharma Deal

Law360, New York (January 16, 2014, 5:49 PM EST) -- Italy-based biopharmaceutical firm Gentium SpA and its suitor Jazz Pharmaceuticals Public Limited Co. were hit with a proposed class action in New York federal court Wednesday by Gentium shareholders claiming the $1 billion that Jazz is offering for the planned acquisition is “unfair.”

In the suit, the holders of Gentium American Depository Shares claim that shortly after the announcement of the planned sale, Gentium filed false or misleading statements in a regulatory filing that was sent to Gentium's shareholders. The filing, which encouraged shareholders to tender...
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