03:23 PM EDT, 09/10/2024 (MT Newswires) -- Alimera Sciences ( ALIM ) said Tuesday it filed a lawsuit in the Delaware Court of Chancery to force ANI Pharmaceuticals ( ANIP ) to complete their merger.

"Alimera has fulfilled all its requirements to close the merger agreement, yet ANI has failed to adhere to its obligation to close on time," the company added.

ANI said Tuesday it is working in good faith to complete the transaction and plans to promptly resolve any delays resulting from discussions about the closing conditions.

ANI agreed to acquire Alimera in June in a deal valued at around $381 million.

Alimera and ANI shares were down 6.7% and 5.3% in recent trading, respectively.

Price: 5.16, Change: -0.40, Percent Change: -7.12