Karuna Therapeutics and members of the company's board of directors were hit with a shareholder lawsuit on Feb. 13 in Delaware District Court over the company's proposed acquisition by Bristol-Myers Squibb. The court action, filed by Long Law on behalf of Shannon Jenkins, seeks to block the transaction based on alleged failure by the defendants to disclose material information related to the company's financial projections, the sales process and company insiders' conflicts of interests. Counsel have not yet appeared for the defendants. The case is 1:24-cv-00197, Jenkins v. Karuna Therapeutics, Inc.
Biotech & Pharmaceuticals
February 15, 2024, 1:50 AM