Affymax Says It Didn't Mislead Investors About Anemia Drug

Law360, San Francisco (January 15, 2014, 7:50 PM EST) -- Affymax Inc. urged a California federal judge to toss a proposed shareholder class action over its agreement to supply Fresenius Medical Care with anemia drug Omontys before the medication was recalled, arguing Wednesday that the plaintiffs haven't shown Affymax's statements to investors about the drug's safety were knowingly misleading.

Affymax urged U.S. District Judge William Orrick to ax the shareholders' claims that company stock dropped $500 million in a single day due to its misrepresentations. There are no allegations in the complaint showing that Affymax and...
To view the full article, register now.

Related

Sections

Case Information

Case Title

Carter v. Affymax, Inc. et al


Case Number

3:13-cv-01025

Court

California Northern

Nature of Suit

Securities/Commodities

Judge

William H. Orrick

Date Filed

March 6, 2013

Law Firms

Companies

Government Agencies

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.