News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Amended Class Action Lawsuit Against Columbia Laboratories, Inc. (CBRX) Dismissed Without Prejudice


10/23/2013 11:48:45 AM

free biotech news Get the latest biotech news where you want it. Sign up for the free GenePool newsletter today!

BOSTON--(BUSINESS WIRE)--Columbia Laboratories, Inc. (Nasdaq:CBRX) announced today that the previously disclosed Consolidated Second Amended Class Action Complaint to the putative class action lawsuit filed against the Company, Actavis, Inc. and certain officers of both companies (the “Defendants”) in the United States District Court, District of New Jersey, entitled In re Columbia Laboratories, Inc., Securities Litigation, has been dismissed. The court ruled that changes the plaintiffs made to their first amended complaint “still do not create a strong inference that [Columbia] acted with an intent to deceive, manipulate or defraud.” The court ordered that if the plaintiffs sought to attempt to plead a cognizable action for a third time, they must do so within thirty days and specifically address why the attempt would not be futile. The Company continues to believe the case is without merit.

Help employers find you! Check out all the jobs and post your resume.

Read at BioSpace.com

comments powered by Disqus
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES