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EMIS.US
id: 842

Emisphere (EMIS) and Novo Nordisk (NVO) Merger Case

D. New Jersey
Court
2:23-cv-20898
Case number
06 Nov 2020
Class period Start
08 Dec 2020
Class period End
04 Dec 2023
Lead Plaintiff motion deadline
On November 6, 2020, Novo Nordisk A/S announced the acquisition of Emisphere Technologies (EMIS). Under the terms of the agreement:
  • $NVO acquired all outstanding $EMIS shares for $1.35 billion.
  • Novo Nordisk also acquired related Eligen® SNAC royalty stream obligations owed to MHR Fund Management LLC (MHR), the largest shareholder of Emisphere, for $450 million.
  • Consequently, the total acquisition price was $1.8 billion.
Given the longstanding and at times privileged relationships between $NVO and Emisphere's management, investors suspect that documents for the subsequent proxy voting on the merger deal might have contained misleading statements. As a result, $EMIS shareholders may not have received the best price for their shares during the deal.
Case Status
Motion to dismiss
Alleged Offence
Misleading Statements
Financial Misrepresentation
Failure to Disclose
Omissions
Suspected Party
Directors
Management
Investment Bank
Service Provider
Security Type
Stocks
Trade Direction
Long
Shock Event Date
08 December 2020
Filing date
04 October 2023
Lead Plaintiff Deadline
04 December 2023
Judge
Hon. Susan D. Wigenton
Collecting participants…

Emisphere Tech

Emisphere Technologies, Inc. operates as a commercial stage pharmaceutical and drug delivery company in the United States. The company offers oral Eligen B12 Rx, an oral formulation prescription me...

    Ticker
    EMIS.US
    ISIN
    US2913451066
    CIK
    805326
    Sector
    Healthcare
    Industry
    Drug Manufacturers - Specialty & Generic
    Country
    USA
    Address
    4 Becker Farm Road, Roseland, NJ, United States, 07068