Elan Again Beats Claims It Hid Drug Trial Data

Law360, New York (October 4, 2011, 7:37 PM EDT) -- For the second time, Elan Corp. PLC on Tuesday dodged a shareholder suit alleging it concealed drug trial information after a federal judge ruled an amended complaint did not properly allege the company intentionally misled investors about the safety and effectiveness of two drugs.

The amended complaint did provide stronger support for allegations of falsity regarding public statements about trials of the Alzheimer's drug Bapineuzumab and the multiple sclerosis drug Tysabri, but U.S. District Judge Charles R. Breyer of the Northern District of California said the...
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