Investors Get Class Cert. Over Radient Pharma False Claims

Law360, New York (November 29, 2012, 1:48 PM EST) -- A California federal judge on Monday certified a class of Radient Pharmaceuticals Corp. investors who allege that the company falsely claimed to have a clinical testing partnership with the prestigious Mayo Clinic, over objections from two Radient executives.

According to U.S. District Judge David O. Carter, the plaintiffs had correctly contended that their allegations — that Radient had lied in a January 2011 press release by claiming it had a partnership with the Mayo Clinic to jointly trial Radient's Onko-Sure diagnostic cancer test, which resulted in...
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