Litigation partner Lew Clayton was named “Litigator of the Week” by The American Lawyer following a victory by Lew and litigation partners Andrew Gordon, Susanna Buergel and Moses Silverman in a seminal M&A case on behalf of Paul, Weiss client Fresenius SE & Co. In October, the Delaware Court of Chancery issued a landmark ruling – the first to find a material adverse event in an acquisition – determining that Fresenius was justified in terminating its $4.75 billion merger agreement with Akorn Inc. It followed 11 weeks of highly expedited pre-trial discovery and five days of trial in July.
In a Q&A with The American Lawyer, Lew noted that the case involved huge stakes for the client. “Fresenius Kabi had contracted to purchase Akorn for $34 a share. Akorn is now trading at less than $5 a share, a difference of over $3 billion,” he said.
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