Biovail Corp. has taken a page from the George Steinbrenner/Billy Martin playbook in order to reignite its well-publicized conspiracy suit against short-sellers and analysts. The Canadian drugmaker has rehired its former lead firm in the case — Kasowitz, Benson, Torres & Friedman. Biovail fired Kasowitz last March amid legal proceedings surrounding the company’s misuse of court-protected documents.
The suit began in February 2006, when Biovail sued analysts and hedge funds, including SAC Capital and its founder Steven Cohen, in New Jersey state court. Biovail claims that it was the victim of a conspiracy to spread false information about it in an effort to depress its stock and profit. The company’s chairman at the time, Eugene Melnyk, appeared on “60 Minutes” to tout the complaint.
This content has been archived.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]