KV Pharma Can't Duck Securities Suit Over FDA Woes

Law360, New York (May 1, 2013, 7:10 PM EDT) -- A Missouri federal judge refused Tuesday to dismiss a proposed class action against KV Pharmaceutical Co., ruling that top officials likely knew that company reports failed to disclose U.S. Food and Drug Administration regulatory violations and that investors were harmed by plummeting stock prices once the truth was revealed.

Judge Carol Jackson ruled on two contested issues: whether the plaintiffs adequately showed that KV knowingly lied to investors and if these alleged misstatements directly harmed investors, according to the order filed in the Eastern District of...
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