False Statement Claims V. Biovail Execs To See Trial

Law360, New York (June 17, 2010, 4:09 PM EDT) -- A judge has denied partial summary judgment to the U.S. Securities and Exchange Commission in its case against three former Biovail Corp. executives who allegedly made false and misleading statements about the impact of a truck accident on the company's quarterly earnings and used the wrong exchange rates in accounting calculations.

Judge Lewis A. Kaplan handed down the ruling in the U.S. District Court for the Southern District of New York on Wednesday, noting that the SEC had not clearly identified the claims on which it...
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