Bioenvision (BIVN) Says Securities Class Action Litigation Without Merit
7/27/2007 11:40:35 AM
NEW YORK--(BUSINESS WIRE)--Bioenvision, Inc. (Nasdaq:BIVN) today announced that it has been named as a defendant in a securities class action lawsuit filed in the United States District Court for the Southern District of New York purportedly on behalf of sellers of the Company’s common stock during the period from May 1, 2007 through May 28, 2007. Bioenvision’s Chairman and CEO, Christopher B. Wood, and CFO, James S. Scibetta, were also named as defendants. The litigation alleges, among other things, that the Company made material misstatements and omissions in connection with the agreement and plan of merger entered into with Genzyme Corporation on May 29, 2007.