Current Report Filing (8-k)
March 04 2020 - 5:19PM
Edgar (US Regulatory)
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2020-03-02
2020-03-03
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UNITED STATES
SECURITIES AND
EXCHANGE COMMISSION
Washington, D.C.
20549
_____________________
Form 8-K
_____________________
CURRENT REPORT
Pursuant to Section
13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date
of earliest event Reported): March 3, 2020
Akorn, Inc.
(Exact Name of Registrant
as Specified in Charter)
Louisiana
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001-32360
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72-0717400
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(State or Other Jurisdiction of Incorporation)
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(Commission File Number)
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(I.R.S. Employer Identification Number)
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1925 W. Field Court, Suite 300, Lake Forest, Illinois 60045
(Address of Principal
Executive Offices) (Zip Code)
(847) 279-6100
(Registrant’s
telephone number, including area code)
(Former name or former
address, if changed since last report)
Check the appropriate box below if the
Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
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¨
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section
12(b) of the Act:
Title of each class
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Trading Symbol(s)
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Name of each exchange on which registered
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Common Stock, No Par Value
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AKRX
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The NASDAQ Global Select Market
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Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities
Exchange Act of 1934 (17 CFR §240.12b-2).
Emerging growth
company ¨
If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 8.01 Other Events.
As previously disclosed, Akorn, Inc. (the “Company”)
is a nominal defendant and certain current and former Company officers and directors have been named individual defendants in a
putative shareholder derivative suit captioned In re Akorn, Inc. Shareholder Derivative Litigation (Civ. A. No. 1:18-cv-07374)
(the “In re Akorn, Inc. Shareholder Derivative Litigation”), filed in United States District Court for the Northern
District of Illinois (the “Court”). On March 3, 2020, the parties filed with the Court a Joint Motion for the Approval
and Entry of a Stipulation and Proposed Order of Dismissal (the “Stipulation and Proposed Order”) providing for the
voluntary dismissal of the action with prejudice. Pursuant to the terms of the Stipulation and Proposed Order, the Company is filing
the Stipulation and Proposed Order, attached hereto as Exhibit 99.1, with this Current Report on Form 8-K.
The voluntary dismissal of the In re Akorn, Inc. Shareholder
Derivative Litigation does not affect any claims asserted in In re Akorn, Inc. Data Integrity Securities Litigation,
C.A. No. 18-cv-1713 (N.D. Ill.) (the “Securities Class Action”), the class-wide settlement filed with the court in
the Securities Class Action on August 9, 2019, or the direct actions under the federal securities laws brought by shareholders
who have requested exclusion from the class-wide settlement in the Securities Class Action.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act
of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
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Akorn, Inc.
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Date: March 4, 2020
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By:
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/s/ Duane A. Portwood
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Duane A. Portwood
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Chief Financial Officer
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