AstraZeneca Class Alleges AstraZeneca's $3B Spin-Off Sold for Inadequate Price
This suit was surfaced by Law.com Radar. Read the complaint here.
February 06, 2023 at 03:56 PM
1 minute read
AstraZeneca and members of its board of directors were hit with a shareholder class action on Thursday in Delaware Court of Chancery over the company's 2021 spin-off of Viela Bio, which was then purchased by Horizon Therapeutics for roughly $3 billion. The suit, which is not publicly available, contends that Viela Bio was not sold for an adequate price and alleges breaches of fiduciary duty. The complaint was filed by Block & Leviton. Counsel have not yet appeared for the defendants. The case is 2023-0125, Sciannella v. AstraZeneca UK Ltd. et al.
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