secwatch.observer — SEC 8-K summary
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Issuer:     Acorda Therapeutics, Inc. (—)
CIK:        0001008848
Form:       8-K
Filed at:   2024-08-09T23:59:59+00:00
Accession:  0000950170-24-094382
Event type: other_material
Sentiment:  negative
Materiality: 1.00
Item codes: 1.03, 3.03, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Acorda Therapeutics liquidation plan confirmed; equity cancelled, management replaced
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- Asset sale to Merz Pharmaceuticals closed July 10, 2024 for $185M.
- Bankruptcy court confirmed Modified First Amended Joint Chapter 11 Plan of Liquidation on August 7, 2024.
- All equity securities cancelled; shareholders receive no distributions under the plan.
- CEO Ron Cohen, CFO Michael Gesser, and other directors/officers deemed resigned on effective date; liquidating trustee appointed.
- Company to dissolve after filing final tax returns and certificate of dissolution.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1008848/000095017024094382/0000950170-24-094382-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1008848/000095017024094382/acor-20240807.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-094382

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer