Akorn falls hard on Chapter 11 bankruptcy filing

22 May 2020

Shares in US generics company Akorn Pharmaceuticals (Nasdaq: AKRX) are now all but worthless after a 32% drop on Thursday.

The company and its US subsidiaries had previously announced that they had filed for voluntary protection under Chapter 11 of the US Bankruptcy Code in United States Bankruptcy Court for the District of Delaware.

Akorn is now continuing operations as usual, with the hearing due to take place imminently.

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