AKRX/Fresenius: Delaware Supreme Court Will Hear Oral Argument on Dec. 5; Decision Could Come Early-Mid January 2019

Relevant Document:
Order

Takeaways
 

• This morning, Oct. 23, the Delaware Supreme Court granted Akorn’s motion to expedite the appeal and set a briefing schedule.
• Akorn’s opening brief due on or before Oct. 29 at 12 p.m. ET. Fresenius’ answering brief is due on or before Nov. 21 at 5 p.m. ET. Akorn’s reply brief is due on or before Nov. 30 at 5 p.m. ET.
• The Delaware Supreme Court will hear oral argument en Banc on Dec. 5 at 11 a.m. ET.
• The Dec. 5 date suggests that a decision from the Delaware Supreme Court could come as soon as early-mid January 2019.

This morning, Oct. 23, the Delaware Supreme Court granted Akorn’s motion to expedite the appeal and set a briefing schedule for Akorn’s appeal of Vice Chancellor Travis Laster’s opinion.

Both Akorn and Fresenius agreed that the appeal should be expedited, but disagreed on a schedule.

The court has set the following briefing schedule:
 

• Akorn’s opening brief is due on or before Oct. 29 at 12 p.m. ET.
• Fresenius’ answering brief is due on or before Nov. 21 at 5 p.m. ET.
• Akorn’s reply brief is due on or before Nov. 30 at 5 p.m. ET.

The Delaware Supreme Court will hear oral argument en Banc on Dec. 5 at 11 a.m. ET.

As Reorg M&A analyzed previously, a written decision could take one month after oral argument. The Dec. 5 date suggests that a decision from the Delaware Supreme Court could come as soon as early-mid January 2019.

--Shrey Verma