Proposed $7.3B Acquisition of Pharma Co. Draws Shareholder Lawsuit
This suit was surfaced by Law.com Radar. Read the complaint here.
August 29, 2023 at 11:29 AM
1 minute read
Reata Pharmaceuticals and members of its board of directors were hit with a shareholder lawsuit on Aug. 28 in Delaware District Court over the company's proposed acquisition by Biogen for $7.3 billion. The suit, filed by Long Law on behalf of Philip Stone, alleges that the proxy statement filed in support of the deal contains false information. Counsel have not yet appeared for the defendants. The case is 1:23-cv-00940, Stone v. Reata Pharmaceuticals Inc. et al.
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