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J&J Fights $1B Payout in Auris Merger Case, Says Court “Rewrote” $3.4B Deal
Summary by USA Herald
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1 Articles
J&J Fights $1B Payout in Auris Merger Case, Says Court “Rewrote” $3.4B Deal
Johnson & Johnson told the Delaware Supreme Court on Wednesday that a lower court overreached its authority by “rewriting” its $3.4 billion merger deal for the acquisition of Auris Health, wrongly using an implied covenant of good faith to force a billion-dollar payout the company says it never agreed to. J&J and its subsidiary Ethicon J&J merger deal suit heats up as company urges Delaware Supreme Court to overturn $1B Auris ruling.
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