Hospira Misled Investors To Pump Up Stock Prices: Suit

Law360, New York (December 9, 2011, 9:05 PM EST) -- A pension plan lodged a putative class action Thursday in Illinois federal court accusing cancer drug maker Hospira Inc. and three executives of artificially inflating stock prices in part by withholding information about a regulatory probe into drug production and other activities.

IUE-CWA Local 475 Pension Plan alleges the specialty medication company sugarcoated two U.S. Food and Drug Administration investigations of its production of cancer drugs and infusion pumps and made misleading statements about the company's overall financial health.

These practices artificially bolstered the prices of...
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