Court Nixes Bid To Boot Lead Avandia Plaintiff

Law360, New York (November 29, 2007, 12:00 AM EST) -- A fight between institutional investors vying for the role of lead plaintiff in a shareholder lawsuit over GlaxoSmithKline’s troubled diabetes drug Avandia has ended in a victory for Avon Pension Fund, which will remain at the helm of the action.

In a ruling handed down Wednesday in the U.S. District Court for the Southern District of New York, Judge Louis L. Stanton rejected a challenge by a group of German investors, referred to collectively in court documents as the German Institutional Investor Group, to bump Avon...
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