Amgen ERISA Case Doesn't Hit Proper Targets: Judge

Law360, New York (March 3, 2010, 1:35 PM EST) -- A judge has dismissed a case brought by employee shareholders against Amgen Inc. over alleged drug safety concerns and illegal marketing that caused the biotechnology company’s stock price to fall, saying the suit does not adequately target the purportedly responsible parties.

Judge Philip S. Gutierrez issued a ruling Tuesday in the U.S. District Court for the Central District of California dismissing most claims and parties in the case, which was brought against Amgen, Amgen Manufacturing Ltd., various directors and officers, and other defendants.

However, the judge...
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