Stockholder Claims Ocera Therapeutics Withholding Material Info Concerning Merger

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Ocera Therapeutics, Inc. and its board of directors are on the receiving end of a proposed class action filed by a shareholder who claims the defendants have chosen to omit material information from a proxy statement filed in connection with a potential merger. The suit accuses the company of failing to disclose the details of Ocera’s financial projections and the valuation analyses performed by its financial advisor before asking stockholders to vote on whether they support a merger with Mallinckrodt plc. The plaintiff claims that without this information, he and other stockholders are unable to make a fully informed decision about the transaction and face possible financial injury.