Amended Class Action Lawsuit Against Columbia Laboratories, Inc. Dismissed Without Prejudice
Published: Oct 23, 2013
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.
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