Dendreon Execs Sued Over Sunny Cancer Drug Sales Forecasts

Law360, New York (July 9, 2012, 6:22 PM EDT) -- Dendreon Corp.'s executives have been hit with a shareholder derivative suit accusing them of withholding details about marketing issues concerning the firm's prostate cancer drug Provenge and causing a 67 percent stock drop when those problems were revealed, according to court documents made public Monday.

In a redacted complaint filed in Delaware state court, investor Herbert Silverberg accused the directors and officers of the Seattle-based biotechnology firm of cashing in on their knowledge of internal corporate information about doctors’ reluctance to administer the drug, allegedly selling...
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