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PharMerica Corporation (PMC)

NYSE:PMC

Summary

Faruqi & Faruqi, LLP Announces Filing of a Class Action Lawsuit Against PharMerica Corporation

Notice is hereby given that Faruqi & Faruqi, LLP has filed a class action lawsuit in the United States District Court for the District of Delaware, case No. 1:17-cv-01301, on behalf of shareholders of PharMerica Corporation (“PharMerica” or the “Company”) (NYSE:PMC) who have been harmed by PharMerica’s and its board of directors’ (the “Board”) alleged violations of Sections 14(a) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”) in connection with  the proposed merger of the Company with affiliates of Kohlberg Kravis Roberts & Co. L.P. (“KKR”).

On August 1, 2017, Company entered into an agreement and plan of merger with KKR (“Merger Agreement”), pursuant to which the Company’s shareholders stand to receive $29.25 in cash for each share of PharMerica stock they own (the “Merger Consideration”), representing $1.4 billion in total value.

The complaint alleges that the Preliminary Proxy Statement on a Schedule 14A (the “Proxy”) filed with the Securities and Exchange Commission (“SEC”) on September 6, 2017, violates Sections 14(a) and 20(a) of the Exchange Act because it provides materially incomplete and misleading information about the Company and the Merger Agreement, including information concerning the Company’s financial projections and analysis, on which the Board relied to recommend the Merger Consideration as fair to PharMerica shareholders.

Contact Counsel

James M. Wilson, Jr.
Faruqi & Faruqi, LLP
685 Third Avenue 26th Floor
New York, NY 10017
Tel: (212) 983-9330

Email:

Case Details

Date:

  • 10/03/2017

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