Pain Therapeutics Can't Duck Investors' Remoxy Suit

Law360, New York (November 20, 2012, 6:17 PM EST) -- A Texas federal judge refused Tuesday to derail a putative class action accusing Pain Therapeutics Inc. of misleading investors about the prospects for painkiller Remoxy, saying there was plausible evidence executives might have concealed damaging information about the drug.

U.S. District Judge Sam Sparks, who two months ago dismissed the lawsuit because it lacked specifics, preserved an amended complaint after finding sufficient reason to believe the company’s top brass touted the oxycodone treatment despite knowing the U.S. Food and Drug Administration was unimpressed with its performance....
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