Affymax Says It Didn't Mislead Investors About Anemia Drug

Law360, San Francisco (January 15, 2014, 7:50 PM EST) -- Affymax Inc. urged a California federal judge to toss a proposed shareholder class action over its agreement to supply Fresenius Medical Care with anemia drug Omontys before the medication was recalled, arguing Wednesday that the plaintiffs haven't shown Affymax's statements to investors about the drug's safety were knowingly misleading.

Affymax urged U.S. District Judge William Orrick to ax the shareholders' claims that company stock dropped $500 million in a single day due to its misrepresentations. There are no allegations in the complaint showing that Affymax and...
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