Gilead Shareholders Must Amend Suit For 5th Time

Law360, New York (June 3, 2009, 12:00 AM EDT) -- Citing contradictory witness testimony, a federal judge agreed Wednesday to partially dismiss a consolidated securities class action against Gilead Sciences Inc. but granted the shareholder plaintiffs leave to revise their fourth amended complaint.

Judge Susan Illston of the U.S. District Court for the Northern District of California ruled that statements in the complaint by a confidential plaintiff witness – a former Gilead sales representative - were inconsistent with earlier statements in a preceding complaint and could not be relied on.

Gilead's motion to dismiss the suit...
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