Encysive Pharmaceuticals Hit With Securities Suit

Law360, New York (September 27, 2006, 12:00 AM EDT) -- A Texas-based biopharmaceutical company has been hit with a proposed class action securities suit alleging the company and three executives misled investors about the prospects for the pulmonary arterial hypertension treatment Thelin.

The lawsuit—which names Encysive Pharmaceuticals Inc. and three individual as defendants—was filed Tuesday on behalf of the Massachusetts Laborers’ Annuity Fund in federal court in Texas. The suit accuses the defendants of violating the Securities Exchange Act of 1934.

Anyone who purchased Encysive stock between February 19, 2004 and March 24, 2006 is eligible...
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