Pain Drug Co. Treated To Shareholder Suit Over Exec's Exit

Law360, New York (April 24, 2012, 2:47 PM EDT) -- A corporate shareholder hit NeurogesX Inc. with a proposed securities class action Monday in New York federal court, claiming the biopharmaceutical developer fraudulently deceived investors and sent the stock plummeting by covering up the planned departure of its head of research and development.

Shareholder Maritime Maritime Assets LLC claims NeurogesX knowingly misled investors by failing to reveal that Dr. Jeffrey K. Tobias, then chief medical officer and executive vice president of research and development, was actively pursuing a job with a competitor.

Since Tobias' position put...
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