Bioenvision Shareholder Suit Rightly Nixed: 2nd Circ.

Law360, New York (April 8, 2010, 2:22 PM EDT) -- A trial court was right to dismiss a lawsuit brought by former shareholders in Bioenvision Inc., a federal appeals court has ruled, saying the plaintiffs' claims that the defendants made materially misleading statements by not disclosing a 2007 merger with Genzyme Corp. were deficient.

A three-judge panel of the U.S. Court of Appeals for the Second Circuit on Wednesday affirmed Judge Sydney H. Stein of the U.S. District Court for the Southern District of New York's 2009 decision to toss the suit against Bioenvision and some...
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