Biovail’s long-running battle against several hedge funds and analysts it accused of driving down its stock price has provided lots of drama. Two years ago, Manhattan federal district court Judge Richard Owen sanctioned Biovail for using documents, which were under a protective order, to file a separate RICO suit against the hedge funds and analysts. (Andrew Longstreth wrote a great American Lawyer feature about the embarrassing hearings before Owen in 2007, in which Biovail’s lawyers at Kasowitz, Benson, Torres & Friedman and Howrey blamed each other for the screw-up.) Then, in February, a couple of plaintiffs lawyers were sanctioned by Newark federal district court Judge Stanley Chesler, who said they’d copied Biovail’s RICO suit in filing a shareholders class against the same hedge funds and analysts. (In a harshly worded ruling (pdf), Chesler also dismissed the suit.)

Now comes what we hope will be the final word in Biovail’s aborted campaign against the hedge funds. On Thursday, New Jersey state court Judge Donald Goldman dismissed Biovail’s trade libel and conspiracy claims against SAC Capital (pdf). In most Litigation Daily posts, this would go without saying, but Goldman didn’t sanction any lawyers in his ruling.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

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]