Stiefel Will Get Split Trial For ERISA, Stock Fraud Claims

Law360, New York (November 1, 2011, 8:29 PM EDT) -- Stiefel Laboratories Inc. won its bid for a bifurcated trial Tuesday in an Employee Retirement Income Security Act and securities fraud case claiming that workers were duped into selling Stiefel shares back to the company at artificially low prices before its acquisition by GlaxoSmithKline PLC.

U.S. District Judge James Lawrence King granted Stiefel's bifurcation bid, which the plaintiffs had opposed, splitting the trial into two phases. The first stage will involve a jury trial on the plaintiff's securities fraud claim, while the second stage will involve...
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