Investor Sues $2.6B Allergy Drugmaker Over Nestle Deal

Law360 (September 25, 2020, 5:42 PM EDT) -- An investor in a $2.6 billion biopharmaceutical company that's making the first federally approved peanut allergy treatment for children alleged that the company left out key financial information in disclosures surrounding its planned sale to Nestle, contending in a New York federal court complaint that the omission makes it impossible for shareholders to properly weigh the deal.

Aimmune Therapeutics Inc. investor Kenneth Davis on Wednesday accused the company and its board of recommending Nestle's offer to buy out all of the allergy treatment makers' shareholders although the deal "would prevent current Aimmune shareholders from participating in Aimmune's strong growth prospects," according...

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