Celgene Investor Sues Over $74B Bristol-Myers Squibb Merger

Celgene Corp. didn’t give investors enough information about the financial analyses behind its proposed $74 billion merger with Bristol-Myers Squibb Co., a Feb. 4 suit said.

The biopharmaceutical firm should have given investors more information about how its financial advisers valued the company, according to the would-be class complaint filed in Delaware federal court.

Celgene filed a proxy statement on the proposed merger with the Securities and Exchange Commission Feb. 1. The company scheduled a shareholder vote on the transaction for April 12, the complaint said.

But the proxy was “materially incomplete and misleading,” according to the complaint. It ...