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Biovail faces U.S. shareholder lawsuit over executive statements |
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Written by THE CANADIAN PRESS
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Sunday, 12 October 2008 |
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TORONTO - Biovail Corp. (TSX:BVF) faces a shareholder lawsuit over statements made by the company and senior executives.
The drugmaker said Thursday the claim is completely without merit.
Biovail said it has been notified of a proposed securities class action in New York over statements alleged to have been made regarding U.S. regulatory approval of the company's Aplenzin antidepressant, which the Food and Drug Administration approved last April.
The complaint on behalf of buyers of Biovail shares between December 2006 and July 2007 names the company, chairman and former CEO Douglas Squires and two former officers.
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Last Updated ( Sunday, 12 October 2008 )
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