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.

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Case Information

Case Title

Hill et al v. Accentia Biopharmaceuticals, Inc. et al


Case Number

8:13-cv-01945

Court

Florida Middle

Nature of Suit

Stockholders Suits

Judge

Steven D. Merryday

Date Filed

July 26, 2013

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