BATON ROUGE – A shareholder has filed a class-action lawsuit against an Illinois-headquartered pharmaceutical company to enjoin a vote on a merger.
Demetrios Pullos, individually and on behalf of all others similarly situated, filed a complaint on June 21 in the U.S. District Court for the Middle District of Louisiana against Akorn Inc., John N. Kapoor, Kenneth S. Abramowitz, Adrienne L. Graves, Ronald M. Johnson, et al. alleging that they violated Sections 14(a) and 20(a) of the Securities Exchange Act.
According to the complaint, there is a proposed merger between Akorn, Fresenius Kabi AG and Quercus Acquisition. The plaintiff holds Akorn Inc., Kapoor, Abramowitz, Graves, Johnson, et al. responsible because the defendants allegedly filed a materially incomplete and misleading proxy statement with the SEC and the plaintiff is seeking to enjoin the shareholder vote on the merger.
The plaintiff requests a trial by jury and seeks to enjoin defendants from holding the shareholder vote on the proposed merger, declaration to maintain this action as a class action, costs and disbursements, attorneys’ and expert fees and all further relief as the court may deem just and proper. He is represented by Lewis Kahn of Kahn Swick & Foti LLC in Madisonville.
U.S. District Court for the Middle District of Louisiana case number 3:17-cv-00395