Specific Diagnostics and parent company bioMerieux were sued by Specific's co-founder Paul A. Rhodes on Oct. 3 in Delaware Superior Court for Castle County. The suit contends that after bioMerieux acquired Specific, bioMerieux learned that Specific and Rhodes' other company iSense were under government investigation; according to the complaint, Specific paid millions to settle, and bioMerieux now seeks reimbursement from Rhodes on the grounds that he fraudulently concealed the investigation during merger negotiations. Rhodes seeks a declaration that he did not commit fraud because only iSense was under investigation during negotiations, not Specific. The suit was filed by Richards Layton & Finger. Counsel have not yet appeared for the defendants. The case is N23C-10-014, Rhodes v. bioMerieux Inc. et al.
Biotech & Pharmaceuticals
October 05, 2023, 3:50 PM