Ex-Stiefel Labs Exec Accuses Bosses Of $40M Con

Law360, Wilmington (July 1, 2011, 7:32 PM EDT) -- A former Stiefel Laboratories Inc. officer on Friday sued the company’s founding family in Florida, alleging he lost $40 million when they conned him into selling them his stake in the company for a fraction of what GlaxoSmithKline PLC paid only months later.

Stiefel Labs Chairman and CEO Charles Stiefel — along with his two sons, who also served as directors — used fabricated valuations of the skin care drugmaker and tall tales about the company’s lack of marketability to retrieve shares at a discount, according...
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Case Information

Case Title

100079 Canada, Inc. v. Stiefel Laboratories, Inc. et al

Case Number



Florida Southern

Nature of Suit

Stockholders Suits


Robert N. Scola, Jr

Date Filed

July 1, 2011

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