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Biovail Settles With BofA, Trader In Conspiracy Case

Law360 (September 11, 2007, 12:00 AM EDT) -- Canadian drug maker Biovail Inc. has reached a settlement with Banc of America Securities LLC and one of the bank's former traders, agreeing to drop claims against them from a lawsuit accusing several hedge funds and brokers of conspiring to drive down its stock price.

Biovail said Friday that it had settled with the the bank and agreed to end litigation against former BofA trader David Maris. The company said that although it will no longer pursue claims against BofA or Maris, it “very much intends...
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