Judge Says Bid To Nix Valeant Stock-Drop Suit Unnecessary
Law360 (August 15, 2019, 11:02 PM EDT) -- A New Jersey federal judge said Thursday that it would be "a waste of judicial resources" to consider Valeant Pharmaceuticals' bid to toss a complaint from an options brokerage that is part of a proposed consolidated class action alleging Valeant fraudulently inflated its stock price, after previously rejecting the brokerage's own escape move.
U.S. District Judge Michael A. Shipp rejected Valeant Pharmaceuticals International Inc.'s attempt to dismiss brokerage firm Timber Hill LLC's proposed class action, saying, "Timber Hill's complaint is a legal nullity at this point in the litigation."
"Therefore, reaching the merits of defendants' motions would be a waste of judicial...
Stay ahead of the curve
In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.
Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
Create custom alerts for specific article and case topics and so much more!