UMB to refile $6.4B lawsuit against Bristol-Myers by end of next week - report [Seeking Alpha]
UMB Financial Corporation (UMBF)
Last umb financial corporation earnings: 4/28 05:00 pm
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Source: Seeking Alpha
UMB plans to refile a lawsuit by the end of next week, according to a CTFN report on Thursday, which cited two sources familiar with the matter. The report comes after a federal court in New York earlier this week dis missed a $6.4 billion suit against Bristol Myers NYSE: BMY ) that alleged the drugmaker wronged holders of Celgene contingent value rights by delaying regulatory approvals for three Celgene drugs. A U.S. district court judge in Manhattan ruled that UMB Bank, which brought the suit, was never properly appointed as trustee for the CVR holders, according to a Reuters report. The suit was filed in June 2021. Bristol Myers acquired Celgene in 2019 for $74B. Under the deal, Celgene shareholders received $50 in cash plus a tradeable CVR for each share held, with the CVR entitling the holder to $9 in cash if certain regulatory milestones were achieved. Recommended For You Comments More Trending News Recommended For You More Trending News
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- UMB Financial Co. (NASDAQ: UMBF) is now covered by analysts at Morgan Stanley. They set an "overweight" rating and a $156.00 price target on the stock.MarketBeat
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UMBF
Earnings
- 10/29/24 - Beat
UMBF
Sec Filings
- 11/12/24 - Form 4
- 11/12/24 - Form 4
- 11/7/24 - Form 144
- UMBF's page on the SEC website