Jun 7 2010
Javelin Pharmaceuticals, Inc. (NYSE -- Amex: JAV) ("Javelin") today announced that on June 4, 2010, Javelin received notice from Hospira, Inc. ("Hospira") that Hospira will fund a $2 million loan to Javelin on June 10, 2010 under the existing loan agreement between Javelin and Hospira.
Javelin was also informed on June 4, 2010 that the Delaware Court of Chancery has granted Javelin's motion to expedite proceedings, and a trial date of July 26, 2010 has been set for the lawsuit filed by Javelin against Hospira and its wholly owned subsidiary, Discus Acquisition Corporation ("Discus"), seeking to compel Hospira and Discus to complete the agreed-upon merger pursuant to the definitive merger agreement among Javelin, Hospira and Discus dated April 17, 2010.
Source:
Javelin Pharmaceuticals, Inc.