Affymax Largely Ducks Investor Suit Over Anemia Drug

Law360, Washington (January 22, 2014, 1:52 PM EST) -- A California federal judge on Tuesday trimmed a putative shareholder class action claiming Affymax Inc. and four executives misled investors about safety issues with anemia drug Omontys, ruling the plaintiffs hadn’t shown most of the statements were intentionally misleading.

U.S. District Judge William Orrick determined that two of the three statements that plaintiffs pointed to in their complaint may not be false or misleading and tossed most of the suit, but he allowed some allegations to move forward based on a February 2013 conference call between Affymax CEO John...
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