Hemispherx's Hostile Takeover Suit Stays Alive

Law360, New York (April 8, 2010, 1:34 PM EDT) -- A federal judge has shot down a bid to dismiss Hemispherx Biopharma Inc.'s suit alleging two South African companies and their investors orchestrated a hostile takeover attempt and made misrepresentations that harmed the company’s business.

Bioclones Ltd., Johannesburg Consolidated Investments and investors associated with those companies lost their motion to toss the case in the U.S. District Court for the Southern District of Florida on Wednesday.

The court lacks personal jurisdiction over the defendants, and Hemispherx's common-law fraud claim is not properly alleged, the defendants argued....
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