Medivation Sees Shareholder Ire Over Alzheimer's Drug

Law360, New York (March 12, 2010, 4:11 PM EST) -- A Medivation Inc. shareholder has hit the biopharmaceutical firm and several top executives with a putative securities class action alleging the company misled the investment community about the promise of an experimental Alzheimer's disease drug, at a cost of millions of dollars to the company's stock value.

In addition to the company's drop in market value, individual executives collectively made as much as $12 million selling off their shares at an allegedly inflated price, according to shareholder Vadym Shabanov's complaint filed in the U.S. District Court...
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