According to the Complaint, Achillion Pharmaceuticals, Inc. is a clinical-stage biopharmaceutical company focused on advancing its oral small molecule complement inhibitors into late-stage development and commercialization.

This action stems from a proposed transaction announced on October 16, 2019, pursuant to which Achillion Pharmaceuticals, Inc. will be acquired by Alexion Pharmaceuticals, Inc.

On October 15, 2019, Achillion’s Board of Directors caused the Company to enter into an agreement and plan of merger with Alexion. Pursuant to the terms of the Merger Agreement, Achillion’s stockholders will receive $6.30 in cash and one contractual contingent right value for each share of Achillion common stock they own.

On November 5, 2019, Defendants filed a Proxy Statement with the United States Securities and Exchange Commission in connection with the Proposed Transaction. The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.

This case was voluntarily dismissed on December 13, 2019.