A Manhattan federal judge has ruled that the U.S. Supreme Court’s recent ruling in Stoneridge Investment Partners v. Scientific-Atlanta Inc., 128 S.Ct. 761, does not shield from securities fraud claims a Bristol-Myers Squibb Co. executive who made no public statements but whose behavior is central to the company’s alleged misconduct.
Bristol-Myers shareholders are suing the company and two of its top executives for allegedly misleading them about patent litigation against Apotex, a manufacturer of a generic version of Bristol-Myers’ best-selling Plavix blood-thinning drug. According to shareholders, the company bargained away much of its right to seek damages for patent infringement to strike a licensing deal with Apotex that was subsequently rejected by regulators.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]