J&J’s $2 Billion Ambrx Buyout Draws Shareholder Legal Challenges

Ambrx Biopharma Inc. and its top executives allegedly omitted information about a $2 billion proposed Johnson & Johnson buyout from a proxy statement, two shareholder suits say.

Shareholders allege that Ambrx provided incomplete information about financial forecasts and company insiders’ potential conflicts of interest, as well as data used by adviser Centerview Partners LLC to assess the deal’s fairness, according to the complaints filed Monday and Tuesday in US District Court for the District of Delaware.

The proxy filed last month allegedly fails to disclose specific line items underlying projected profits and earnings for the company, as well as non-risk-adjusted ...