Shareholders Join Suits In XenoPort Stock Price Case

Law360, New York (January 5, 2011, 5:33 PM EST) -- XenoPort Inc. shareholders have lodged a consolidated class action based on two earlier suits claiming the company withheld information that caused federal regulators to block approval of a restless leg syndrome drug it developed with GlaxoSmithKline PLC, allegedly inflating share prices.

Lead plaintiff Ie-Chen Cheng alleges that biopharmaceutical company XenoPort failed to disclose studies showing a link between the developmental drug Horizant and an increased risk of pancreatic cancer in laboratory rats, according to a consolidated complaint filed Tuesday in the U.S. District Court for the...
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