SAN DIEGO, April 25, 2017 /PRNewswire/ -- Shareholder rights law firm Johnson & Weaver, LLP (J&W) has launched an investigation into whether the board members of Akorn, Inc. (NASDAQ: AKRX) breached their fiduciary duties in connection with the proposed sale of the Company to German based Fresenius Kabi.
On April 24, 2017, Akorn announced it had signed a definitive merger agreement with Fresenius Kabi. Under the terms of the agreement, Akorn shareholders will receive $34 in cash for each share of common stock held.
The investigation concerns whether the Akorn board failed to satisfy their duties to the Company shareholders and whether Fresenius Kabi is underpaying for the Company. For instance, shares of Akorn stock traded over $50 several years ago, and the price being paid by Fresenius Kabi is below an analyst price target of $36.00 per share.
If you are a shareholder of Akorn and believe the proposed buyout price is too low and you're interested in learning more about the investigation or your legal rights and remedies, please contact lead analyst Jim Baker (email@example.com) at 619-814-4471.
About Johnson & Weaver, LLP:
Johnson & Weaver, LLP is a nationally recognized shareholder rights law firm with offices in California, New York and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit http://www.johnsonandweaver.com. Attorney advertising. Past results do not guarantee future outcomes.
Johnson & Weaver, LLP
Jim Baker, 619-814-4471
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/akorn-akrx-alert-jw-launches-investigation-into-the-sale-of-akorn-is-34-a-fair-price-300445123.html
SOURCE Johnson & Weaver, LLP