Elan Shareholder Suit Gets The Boot

Law360, New York (February 9, 2011, 8:02 PM EST) -- A federal judge Wednesday dismissed a shareholder suit against Elan Corp. PLC, saying that the complaint failed to allege either falseness or intent to deceive in the drugmaker's public statements about two underperforming products.

Judge Charles R. Breyer of the U.S. District Court for the Northern District of California ruled that the plaintiffs had 30 days to amend their complaint in order to meet the legal specificity requirements.

The suit was filed in June by Philco Investments Ltd., David Mauer, and David and Maria Rosenbaum, investors...
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Case Title

Philco Investments, LTD et al v. Martin et al


Case Number

3:10-cv-02785

Court

California Northern

Nature of Suit

Securities/Commodities

Judge

Charles R. Breyer

Date Filed

June 23, 2010

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