Investors Resurrect Fraud Suit Over Nixed Sanofi Drug

Law360, New York (July 28, 2010, 3:34 PM EDT) -- A federal judge has reinstated a putative class action alleging Sanofi-Aventis SA deceived investors about the blockbuster prospects of its weight loss drug Zimulti, which never made it to market in the face of evidence tying the drug to suicide risks.

Judge George B. Daniels of the U.S. District Court for the Southern District of New York reopened the case Tuesday, granting the lead plaintiff’s request for reconsideration of the dismissal order and clearing the stage for a new and improved complaint.

Judge Daniels dismissed the...
To view the full article, register now.