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

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Oct 03, 2017, 05:00 ET

NEW YORK, Oct. 3, 2017 /PRNewswire/ -- 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.

If you wish to obtain information concerning this action, you can do so by clicking here: www.faruqilaw.com/PMCnotice.

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.

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Plaintiff is represented by Faruqi & Faruqi, LLP, a law firm with extensive experience in prosecuting class actions, and significant expertise in actions involving corporate fraud. Faruqi & Faruqi, LLP, was founded in 1995 and the firm maintains its principal office in New York City, with offices in Delaware, California, Georgia, and Pennsylvania.

If you wish to serve as lead plaintiff, you must move the Court no later than 60 days from the date of this notice. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. If you wish to discuss this action, or have any questions concerning this notice or your rights or interests, please contact:

Nadeem Faruqi, Esq.
James M. Wilson, Jr., Esq.
FARUQI & FARUQI, LLP
685 3rd Avenue, 26th Floor
New York, NY 10017
Telephone: (877) 247-4292 or (212) 983-9330
E-mail: [email protected]
[email protected]

SOURCE Faruqi & Faruqi, LLP