GSK Drug Partner XenoPort Hit With Stock Drop Action

Law360, New York (September 27, 2010, 5:09 PM EDT) -- A XenoPort Inc. shareholder has filed a proposed class action that accuses the biopharmaceutical company of withholding information related to Horizant — a restless leg syndrome drug it was developing with GlaxoSmithKline PLC — that allegedly caused its stock price to plummet.

Named plaintiff Ie-Chen Cheng alleges that XenoPort failed to disclose studies showing an increased risk of pancreatic cancer in laboratory rats associated with the developmental drug, according to a complaint filed Friday in the U.S. District Court for the Northern District of California....
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