Akorn Inc. is an American pharmaceuticals company that deals in developing, manufacturing and marketing generic and prescription drugs as well as animal and consumer health products.

According to a law firm press release, pursuant to the terms of the Merger Agreement, Fresenius will acquire all of the outstanding shares of Akorn common stock for $34.00 per share in cash.

On May 22, 2017, the Company filed a Proxy Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. According to the Complaint, the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.

On June 30, 2017, the Court issued an Order Consolidating Cases. On July 5, this case was transferred to the District Court for the Northern District of Illinois.

On July 14, 2017, Plaintiff filed a stipulation to voluntarily dismiss this action. The Court granted the Motion to Dismiss by minute Order on July 19. On September 15, the Parties filed a Stipulation closing the case for all purposes. On September 18, one of the Plaintiffs filed a Motion to Intervene for purposes of objecting to the settlement of Attorneys' Fee claims. On November 21, the Court issued an Order denying the Motion to Intervene. On June 1, 2018, Plaintiff filed a Notice appealing the Court's decision which denied as moot the Motion to Intervene.

On April 15, 2024, the Court of Appeals ruled in favor of the intervenor and remanded the case for further proceedings.