Catalyst's New Drug Was Old News, Investors Say

Law360, New York (October 28, 2013, 2:07 PM EDT) -- A putative class of Catalyst Pharmaceutical Partners Inc. investors on Thursday accused the company in Florida federal court of inflating its stock price by misrepresenting its orphan drug Firdapse as new, when another company had been giving it away for decades.

Lead plaintiff Atul Kamar Sood accuses the drug company, which develops prescription drugs for rare neuromuscular and neurological diseases, of touting the development of the drug Firdapse — used to treat Lambert-Eaton myasthenic syndrome, an autoimmune disorder — while failing to mention that New Jersey-based...
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Case Information

Case Title

Sood v. Catalyst Pharmaceutical Partners Inc. et al


Case Number

1:13-cv-23878

Court

Florida Southern

Nature of Suit

Securities/Commodities

Judge

Ursula Ungaro

Date Filed

October 25, 2013

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