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Fly News Breaks for December 19, 2019
Dec 19, 2019 | 07:17 EDT
Raymond James analyst Elliot Wilbur noted that a retreat yesterday in shares of Akorn was apparently due to the market digesting disclosures contained in a Monday 8-K filing and media mention of language therein regarding potential Chapter 11 scenarios, which perhaps "mainstreamed" a bankruptcy scenario. His initial read of the disclosures was "a mere suggestion of the possibility, although unusual, rather than a probability" of a Chapter 11 bankruptcy filing, said Wilbur, who keeps a Market Perform rating on Akorn shares.
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