KV Pharmaceutical Moves To Toss Securities Action

Law360, New York (July 28, 2009, 6:04 PM EDT) -- KV Pharmaceutical Co. has asked a federal court to dismiss a consolidated securities class action arising from alleged financial misstatements and widespread drug recalls, calling the litigation nothing more than “fraud by hindsight.”

In a motion filed Monday in the U.S. District Court for the Eastern District of Missouri, KV said the plaintiffs were asking the court to conclude that company officials must have known their financial statements were misleading, even though the product recalls at issue were not made until months afterward.

“Plaintiff fails to...
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