Judge Boots Investor Class Action Over Feraheme Risks

Law360, New York (August 15, 2011, 5:02 PM EDT) -- A Massachusetts federal judge on Thursday tossed a putative class action brought by AMAG Pharmaceuticals Inc. shareholders against the company and its underwriters for allegedly misleading investors about the risks associated with AMAG's injectable iron deficiency treatment Feraheme.

The investors, led by Silverstrand Investments LLC, Safron Capital Corp. and Briarwood Investments Inc., filed the suit in March 2010 after reports of serious adverse reactions to Feraheme arose soon after a January 2010 stock offering that allegedly caused AMAG's stock price to plummet.

The plaintiffs accused AMAG, several...
To view the full article, register now.