Stock Promoter Dropped From CellCyte Fraud Suit

Law360, New York (September 25, 2009, 12:19 PM EDT) -- A Canadian stock promoter investors accused of helping fraudulently boost fledgling biotechnology company CellCyte Genetics Corp.’s stock price has been dropped from a lawsuit over the alleged pump and dump scheme, as a federal judge has found the plaintiffs had failed to attribute any false or misleading statements to him.

In an opinion issued Thursday in the U.S. District Court for the Western District of Washington, Judge Robert S. Lasnik granted G. Brent Pierce’s motion to throw out the claims against him, saying the group leading...
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