Biohaven Sued After Pfizer Merger Announcement

Stockholder Matthew Hopkins filed a complaint against Biohaven Pharmaceutical Holding Company LTD and its Board of Directors, alleging the defendants violated the Securities Exchange Act (SEA) in connection with their recently announced merger with Pfizer.

On May 9, the defendants agreed to enter a merger agreement with Pfizer in which Biohaven would be acquired by Pfizer and Bulldog LTD. According to the complaint, the defendants released a misleading proxy statement to shareholders which omitted financial information regarding Pfizer’s acquisition of the defendants; the purported omissions render the proxy statement false and misleading and in violation of the SEA.

The plaintiff is seeking a preliminary and permanent injunction preventing the defendants from engaging in the acquisition, an order to the defendants requiring an immediate dissemination of a proxy statement free from misrepresentation, a declaration the defendants violated the SEA, as well as costs.

The plaintiff is represented by Grabar Law Office.