XenoPort Investors' Horizant Suit Tossed For Now

Law360, New York (May 23, 2011, 12:52 PM EDT) -- A federal judge in California on Friday tossed a shareholder class action against XenoPort Inc., saying claims that the company withheld information about problems delaying the approval of restless legs syndrome drug Horizant weren't sufficient and needed to be redrawn.

After a hearing, U.S. District Judge Ronald M. Whyte ruled in favor of the Santa Clara, Calif.-based biopharmaceutical company and several of its top executives, but gave lead plaintiff Ie-Chen Cheng 30 days to replead her proposed class action.

The plaintiffs claim Xenoport failed to disclose...
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