AstraZeneca Affiliate Hit With $275M Merger Payment Suit

Law360, New York (June 22, 2017, 7:29 PM EDT) -- Agents for the former shareholders of a pharmaceutical company acquired by an affiliate of AstraZeneca PLC filed suit Thursday in Delaware state court seeking the payment of $275 million they allege is owed from the 2013 merger of the two companies.

In a Delaware Chancery Court complaint unsealed Thursday, David Kabakoff and Arnold Oronsky sued Zeneca Inc. on behalf of the former investors in Amplimmune Inc. seeking payment of $275 million in contingent consideration they say is due as part of the merger agreement. Amplimmune shareholders received $225 million in upfront payments in the deal, with the other $275 million coming...

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