Ex-Alfacell Exec's Securities Suit Gets The Boot

Law360, New York (October 17, 2011, 8:26 PM EDT) -- A New Jersey federal judge on Monday tossed a lawsuit brought by a former Alfacell executive who claimed he exercised his option to buy stock because of misleading statements the company made about clinical trials for a cancer treatment.

U.S. District Judge Mary L. Cooper dismissed with prejudice former Alfacell Chief Financial Officer Robert D. Love's allegations that he was duped into purchasing and then holding onto Alfacell stock by misleading statements about when the company would complete trials for Onconase — a drug developed to...
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