Bradley Pharmaceuticals Derivative Action Dismissed

Law360, New York (November 8, 2006, 12:00 AM EST) -- A state judge has dismissed a pending shareholder derivative action brought against former officers and directors of Bradley Pharmaceuticals Inc. that claimed they breached their fiduciary duties to the company by issuing false financial statements.

The lawsuit was a consolidation of two separate derivative actions alleging abuse of control, gross mismanagement, waste of corporate assets and unjust enrichment, according to court documents.

“This decision by the court is important to our company and our stockholders and supports our position that the plaintiffs’ complaint was unwarranted,” said...
To view the full article, register now.