Life Sciences Cos. Faced 65% More Securities Suits In 2012

Law360, New York (March 22, 2013, 1:39 PM EDT) -- Securities fraud class actions against life sciences companies increased almost 65 percent in 2012, and firms may be forced to pay out larger settlements in the wake of the U.S. Supreme Court’s Amgen decision lowering the bar for investor suits, according to a Dechert LLP survey released Friday.

In 2012, 28 class actions were filed against pharmaceutical, biotechnology and medical companies and their executives, compared to 17 that were filed in 2011, according to the survey. Most of the suits alleged firms made misleading statements about...
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