Biovail Fires Kasowitz Benson In Document Debacle

By Anne Urda (March 26, 2007, 12:00 AM EDT) -- Upset over the purported mishandling of documents, Biovail Corp. has fired Kasowitz, Benson Torres & Friedman, which was representing the Canadian pharmaceutical giant in its battle with a group of hedge funds over alleged accounting fraud.

On Friday, the company revealed that it had ceased relations with the New York powerhouse as part of the fallout stemming from an adverse ruling handed down by a U.S. district judge in January.

"Due to issues arising from proceedings before Judge [Richard] Owen, Biovail has terminated its relationship with the Kasowitz firm," the statement read.

Kasowitz Benson fired back immediately, maintaining that the firm...

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