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Case Status:    ONGOING    
On or around 09/20/2019 (Date of last review)

Filing Date: September 20, 2019

According to the Complaint, Allergan plc is a global pharmaceutical leader focused on developing, manufacturing and commercializing branded pharmaceutical, device, biologic, surgical, and regenerative medicine products.

On June 25, 2019, Allergan and AbbVie issued a joint press release announcing the Proposed Transaction pursuant to which Allergan will be acquired by AbbVie Inc. Under the terms of the Merger Agreement, each Allergan stockholder will be entitled to receive for each Allergan ordinary share: (i) $120.30 in cash, and (ii) 0.8660 of a newly issued share of AbbVie common stock. Based on the closing price of AbbVie’s common stock of $78.45 on June 24, 2019, the Proposed Transaction has an equity value of approximately $63 billion.

On September 16, 2019, Allergan filed a Definitive Proxy Statement on Schedule 14A (the “Proxy Statement”) with the SEC. The Complaint alleges that the Proxy Statement, which recommends that Allergan stockholders vote in favor of the Proposed Transaction, omits or misrepresents material information concerning, among other things: (i) Allergan management’s estimates for the amount and timing of cost savings and related expenses and synergies expected to result from the Proposed Transaction; (ii) the data and inputs underlying the financial valuation analyses that support the fairness opinion provided by the Company’s financial advisor; and (iii) potential conflicts of interest faced by Company insiders.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: Ireland

SECURITIES INFORMATION:

Ticker Symbol: AGN
Company Market: New York SE
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: D. New Jersey
DOCKET #: 19-CV-18166
JUDGE: Hon. Esther Salas
DATE FILED: 09/20/2019
CLASS PERIOD START: 06/25/2019
CLASS PERIOD END: 09/20/2019
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bragar Eagel & Squire PC
  2. Rubin & Mendlowitz, LLC
  3. Weisslaw LLP (NY)
No Document Title Filing Date
—Reference Complaint Complaint Related Data is not available
—Related District Court Filings Data is not available