Ionis and Akcea Settle Breach of Fiduciary Duty Claims

On behalf of Ionis Pharmaceuticals, Inc. and certain directors of Akcea Therapeutics, Inc., Skadden secured a favorable settlement of claims for breach of fiduciary duty in connection with Ionis’ acquisition of the remaining minority outstanding shares of Akcea. Skadden negotiated a settlement that obtained a full release of claims related to the merger and a derivative litigation that was pending at the time of the merger. On October 12, 2022, Vice Chancellor Lori W. Will approved the settlement.