Shareholders Rebel Against Connetics

Law360, New York (November 9, 2006, 12:00 AM EST) -- Connetics Corp. was hit Wednesday with yet another securities class action lawsuit over allegations that it concealed information from its shareholders regarding the new acne drug Velac.

The suit was the third of its kind filed in the U.S. District Court for the Northern District of California alone. Like the others, it accused the pharmaceutical company of keeping stock prices artificially inflated by failing to disclose a 2004 study that showed the drug caused tumors in 55% of mice.

Then, as they continued stating that Velac...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.