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Case Status:    ONGOING    
On or around 11/17/2017 (Ongoing date of last review)

Filing Date: November 17, 2017

Ocera is a clinical-stage biopharmaceutical company targeting acute and chronic orphan liver diseases.

According to the Complaint, this action stems from a proposed transaction announced on November 2, 2017
(the “Proposed Transaction”), pursuant to which Ocera Therapeutics, Inc. (“Ocera” or the “Company”) will be acquired by affiliates of Mallinckrodt plc.

On November 1, 2017, Ocera’s Board of Directors (the “Board” or “Individual Defendants”) caused the Company to enter into an agreement and plan of merger (the “Merger Agreement”) with MAK LLC (“Parent”), MEH Acquisition Co. (“Merger Sub”), and Mallinckrodt plc (together with Parent and Merger Sub, “Mallinckrodt”). Pursuant to the terms of the Merger Agreement, Merger Sub launched a tender offer (the “Tender Offer”) to acquire all of the Company’s outstanding common stock for: (i) $1.52 per share in cash, and (ii) one contingent value right (“CVR”) per share, which represents the contractual right to receive one or more payments in cash currently estimated to be up to $2.58 in the aggregate, contingent upon the achievement of certain milestones. The Tender Offer is scheduled to expire on December 8, 2017.

On November 9, 2017, defendants filed a Solicitation/Recommendation Statement (the “Solicitation Statement”) with the United States Securities and Exchange Commission (“SEC”) in connection with the Proposed Transaction.

The Complaint alleges that the Solicitation Statement omits material information with respect to the Proposed Transaction, which renders the Solicitation Statement false and misleading. Accordingly, plaintiff alleges herein that defendants violated Sections 14(e), 14(d), and 20(a) of the Securities Exchange Act of 1934 (the “1934 Act”) in connection with the Solicitation Statement.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: OCRX
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 17-CV-06636
JUDGE: Hon. Edward M. Chen
DATE FILED: 11/17/2017
CLASS PERIOD START: 11/02/2017
CLASS PERIOD END: 11/17/2017
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Rigrodsky & Long, P.A.
    919 N. Market Street, Suite 980, Rigrodsky & Long, P.A., DE 19803
    302.295.5310 302.295.5310 · info@rigrodskylong.com
  2. WeissLaw LLP (Beverly Hills)

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