Accentia Faces Investor Suit Over Lymphoma Vaccine

Law360, Los Angeles (July 29, 2013, 6:05 PM EDT) -- The directors of Accentia Biopharmaceuticals Inc. subsidiary Biovest International Inc. lied to investors about the performance of a non-Hodgkin's lymphoma treatment vaccine that Biovest was developing, artificially inflating both companies' stock prices, according to a securities class action filed Friday in Florida federal court.

Biovest management said the vaccine was successful in a key clinical trial even though the U.S. Food and Drug Administration repeatedly said that the results wouldn't support a license application, according to the suit filed by three stockholders.

After the truth about...
To view the full article, register now.