Legal Battle Erupts as Deerfield Accuses Alcon of Obstructing Aurion Biotech’s IPO Plans

Here is a suggested title, keywords, and key facts about the topic "Valentines Day Massacre: Deerfield Claims Alcon is Blocking Aurion's IPO":

Aurion Biotech, a cell therapy company specializing in eye disease treatments, is attempting to launch an IPO1.

Alcon Research, a major investor in Aurion, filed a lawsuit in October 2024 to block the IPO14.

Deerfield Management, another major investor in Aurion, has accused Alcon of trying to prevent the IPO7.

The legal dispute centers around Alcon's claim that its consent rights as a Series C investor allow it to block Aurion's reverse stock split, which is necessary for the IPO16.

A Delaware judge ruled on January 27, 2025, that Aurion does not require Alcon's consent to proceed with the IPO16.

Alcon has announced its intention to appeal the court's decision16.

The conflict arose after Aurion rejected previous acquisition attempts by Alcon45.

Aurion countersued Alcon, alleging that the company was attempting to block the IPO in order to acquire Aurion at a lower price45.

The legal battle highlights tensions between minority investors and company management in the biotech industry7.

The case is being closely watched in the biotech and investment communities for its potential implications on corporate governance and shareholder rights45.

Sources:

1. https://www.globallegalinsights.com/news/investor-to-appeal-biotech-ipo-ruling/

4. https://www.law360.com/articles/2302055

5. https://www.biospace.com/business/you-cant-buy-us-biotechs-turn-to-courts-to-fight-off-potential-buyers

6. https://www.fiercebiotech.com/biotech/judge-rules-favor-aurion-ipo-suit-decision-investor-alcon-plans-appeal

7. https://www.law360.com/securities/articles/2302055/biotech-minority-investor-sues-in-del-to-block-control-moves