Shareholders Challenge APP Pharma Merger

     CHICAGO (CN) – Shareholders claim APP Pharmaceuticals breached fiduciary duty in a merger with a subsidiary of Fresenius, allowing APP Chairman Patrick Soon-Shiong to cash out his illiquid assets for $3 billion.

     The plaintiff class also object to the merger’s $140 million termination fee and claim APP filed false statements with the SEC. APP make injectable medical products.
     They are represented in Cook County Chancery Court by Amelia Newton with Lasky & Rifkind.

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