Novo's acquisition has legal ramifications: Dicerna sued by shareholders

A number of shareholders in US-based Dicerna have sued over an alleged breach of the US Securities Exchange Act, following the announcement of Novo Nordisk's planned acquisition of the US-based biotech firm.

Danish pharmaceutical firm Novo Nordisk could be entagled in a legal dispute in the US, as a number of shareholders in Dicerna have sued the US-based firm following the news of Novo Nordisk's planned acquisition. | Photo: Jacob Ehrbahn/Politiken

Novo Nordisk's acquisition of US-based biotech firm Dicerna for USD 3.3bn has been hit by a legal aftermath. Shareholders in Dicerna have filed separate suits against the firm and its board of directors, alleging violations of the US Securities Exchange Act, reports Law Street Media.

On Nov. 18, Novo Nordisk and Dicerna announced the merger deal, and on Nov. 24, Dicerna's board recommended the deal to its shareholders. Plaintiffs Laurie Volpe and Matthew Hopkins say the provided information was "materially incomplete and misleading".

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