Elan Beats Investor Fraud Claims Over Drug Prospects

Law360, New York (August 10, 2011, 7:30 PM ET) -- A New York federal judge on Tuesday tossed two class actions alleging that Elan Corp. PLC misled investors about the prospects for two of its drugs, one a possible treatment for Alzheimer's disease.

U.S. District Judge Alvin Hellerstein reviewed the plaintiffs’ brief in favor of once more amending their complaints but concluded that the additional allegations did nothing to cure fatal deficiencies he pointed out at a hearing in June.

“These new allegations may offer additional details regarding plaintiffs' theory of their cases, but they do...
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