3 Perrigo Board Members Walk From ARS Class Suit

Law360, New York (October 5, 2010, 6:04 PM EDT) -- A federal judge has dismissed three Perrigo Co. audit committee members from a putative securities fraud class action alleging the pharmaceutical company hid the fact that it held $18 million in auction rate securities purchased from Lehman Brothers Holdings Inc. until months after the financial company filed for bankruptcy.

Judge Thomas P. Griesa partly granted the defendants' motion to dismiss in the U.S. District Court for the Southern District of New York on Thursday, allowing Perrigo board and audit committee members Laurie Brlas, Gary K. Kunkle...
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