A Delaware judge ruled against the pharmaceutical giant eight months after a trial of claims that it engaged in wide-ranging breaches of its agreement with former Auris shareholders by failing to pursue regulatory approvals for two projects with blockbuster potential, the iPlatform and the Monarch.
More than $2 billion in additional payments hinged on the approvals. The allegations echoed a recurring theme in Delaware’s Chancery Court, the leading US forum for M&A fights, where it’s common for lawsuits to assert that corporate acquirers are trying to wriggle out of post-deal payments.
“J&J’s promise to Auris was broken almost immediately,” Vice Chancellor Lori W. Will said in a 145-page opinion. Although the damages will compensate…
