BioMimetic Triumphs Over Investors' Fraud Class Action

Law360, Los Angeles (January 11, 2013, 2:26 PM EST) -- A Tennessee federal judge on Thursday tossed a shareholder class action against BioMimetic Therapeutics Inc. and its two top executives, ruling that the plaintiffs had failed to prove the orthopedics company lied about the progress of approval for a bone injury treatment that decimated its stock price.

U.S. District Judge Kevin H. Sharp granted BioMimetic's bid to dismiss the suit, finding that under the pleading requirements of the Private Securities Litigation Reform Act, the investors failed to adequately support their claims that BioMimetic conducted inferior clinical...
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