Medivation Sees Shareholder Ire Over Alzheimer's Drug

Law360, New York (March 12, 2010, 4:11 PM EST) -- A Medivation Inc. shareholder has hit the biopharmaceutical firm and several top executives with a putative securities class action alleging the company misled the investment community about the promise of an experimental Alzheimer's disease drug, at a cost of millions of dollars to the company's stock value.

In addition to the company's drop in market value, individual executives collectively made as much as $12 million selling off their shares at an allegedly inflated price, according to shareholder Vadym Shabanov's complaint filed in the U.S. District Court...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.