HALISTER1: Alere Asks Court to Force Abbott to Reveal Due Diligence Memos

Alere Asks Court to Force Abbott to Reveal Due Diligence Memos

(Bloomberg) -- Alere wants a Delaware judge to uphold a special master’s report recommending Abbott Laboratories produce handwritten notes and summaries from its due diligence meetings and calls about the companies stalled $5.8 billion merger.
  • Alere wants the information ahead of an April trial
  • Alere says in filing on Tuesday that Abbott knew of its legal and regulatory issues during the course of due diligence in December 2015 and January 2016
  • Alere provided Abbott with “substantial written and oral information” concerning its revenue recognition practices, ongoing FCPA investigation, communications with the FDA and government probes, according to filing
  • Alere filed objection to Abbott’s appeal of a special master’s ruling on March 17 recommending that it divulge the information
  • CASE: In Re Alere-Abbott Merger Litigation, CA12963, Delaware Chancery Court (Georgetown).

Alert: HALISTER1
Source: BFW (Bloomberg First Word)

Tickers
ALR US (Alere Inc)
ABT US (Abbott Laboratories)

Topics
Delaware Chancery Court

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