AKORN, INC. v. FRESENIUS KABI AG

C.A. No. 2018-0300-JTL

AKORN, INC., Plaintiff and Counterclaim Defendant, v. FRESENIUS KABI AG, QUERCUS ACQUISITION, INC., and FRESENIUS SE & CO. KGAA, Defendants and Counterclaim Plaintiffs.

Court of Chancery of Delaware.

Decided: October 1, 2018.


Attorney(s) appearing for the Case

William M. Lafferty , Thomas W. Briggs, Jr. , John P. DiTomo , Richard Li , MORRIS, NICHOLS, ARSHT & TUNNELL LLP, Wilmington, Delaware; Robert H. Baron , Daniel Slifkin , Michael A. Paskin , Justin C. Clarke , CRAVATH, SWAINE & MOORE LLP, New York, New York; Counsel for Plaintiff and Counterclaim Defendant.

Donald J. Wolfe, Jr. , Michael A. Pittenger , T. Brad Davey , Matthew F. Davis , Jacob R. Kirkham , POTTER ANDERSON & CORROON LLP, Wilmington, Delaware; Stephen P. Lamb , Daniel A. Mason , Brendan W. Sullivan , PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP, Wilmington, Delaware; Lewis R. Clayton , Andrew G. Gordon , Susanna M. Buergel , Jonathan H. Hurwitz , Daniel H. Levi , Paul A. Paterson , PAUL, WEISS, RIFKIND, WHARTON & GARRISON LLP, New York, New York; Counsel for Defendants and Counterclaim Plaintiffs.


MEMORANDUM OPINION

Pursuant to an agreement and plan of merger dated April 24, 2017 (the "Merger Agreement"), Fresenius Kabi AG agreed to acquire Akorn, Inc. In the Merger Agreement, Akorn made extensive representations about its compliance with applicable regulatory requirements and committed to use commercially reasonable...

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