Icosavax Inc. and its directors allegedly misled investors about proposed takeover by AstraZeneca Plc in a regulatory filing last month, a shareholder lawsuit says.
The proposed deal to sell Icosavax to AstraZeneca for up to $1.1 billion in cashwas agreed upon by the parties, but they omitted or misrepresented details about potential conflicts of interest, financial projections and data inputs underlying a financial adviser’s valuation, according to the complaint filed Tuesday in US District Court for the Southern District of New York.
The $15 per share transaction agreed upon in December would have a total value of $1.1 billion including ...
Learn more about Bloomberg Law or Log In to keep reading:
See Breaking News in Context
Bloomberg Law provides trusted coverage of current events enhanced with legal analysis.
Already a subscriber?
Log in to keep reading or access research tools and resources.