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LARKIN v. SHAH

C.A. No. 10918-VCS.

TIMOTHY LARKIN and ELLEN HOKE, Individually and on Behalf of All Others Similarly Situated, Plaintiffs, v. PRATIK SHAH, SAMUEL R. SAKS, R. SCOTT GREER, PHILIP M. SCHNEIDER, ALEX ZISSON, GERALD T. PROEHL, RODNEY A. FERGUSON, SEPEHR SARSHAR, and LYNN DORSEY BLEIL, Defendants.

Court of Chancery of Delaware.

Decided: August 25, 2016.

Attorney(s) appearing for the Case

James R. Banko Esquire , and Derrick B. Farrell Esquire , of Faruqi & Faruqi, LLP, Wilmington, Delaware and Juan E. Monteverde Esquire , and Miles D. Schreiner Esquire , of Faruqi & Faruqi, LLP, New York, New York, Attorneys for Plaintiffs.

William M. Lafferty, Esquire , D. McKinley Measley Esquire , and Richard Li, Esquire , of Morris, Nichols, Arsht & Tunnell LLP, Wilmington, Delaware and Koji Fukumura, Esquire , Peter Adams Esquire , and Blake Zollar Esquire , of Cooley LLP, San Diego, California, Attorneys for Defendants.

MEMORANDUM OPINION

In May 2015, Teva Pharmaceuticals Industries, Inc. acquired Auspex Pharmaceuticals, Inc. in a two-step, medium-form merger pursuant to Section 251(h) of the Delaware General Corporation Law. No Auspex stockholders sought to enjoin the transaction. Plaintiffs are former stockholders of Auspex...

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