Court Refuses To Toss Enzo Shareholder Suit

Law360, New York (January 10, 2008, 12:00 AM EST) -- A judge ruled that a consolidated class action lawsuit filed against Enzo Biochem Inc., alleging the company and certain officers conspired to inflate the price of the stock through misrepresentations and omissions about the efficacy of its HIV treatments, should proceed to trial.

In a decision Tuesday, Judge Shira A. Scheindlin of the U.S. District Court for the Southern District of New York denied the bulk of a motion to dismiss the suit. However, the judge dismissed one defendant, Enzo CEO Elazar Rabbani, from the case....
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