Fresenius Seeks $76 Million From Akorn in Buyout Dispute (1)

German health-care company Fresenius SE says it deserves at least $76 million from Akorn Inc. for hiding extensive quality-control problems that led it to cancel a $4.3 billion buyout of the U.S. generic drugmaker.

Akorn executives tried to cover up widespread problems at the company in an effort to close the deal quickly, Lewis Clayton, one of Fresenius’s lawyers, told a judge in Wilmington, Delaware, Wednesday.

“We thought these were honest people and they were not,” Clayton told Delaware Chancery Court Judge Travis Laster. Former Akorn Chief Executive Officer Raj Rai’s plan was to “take the money ...