Keryx, CEO Dodge Investor Class Action Over Cancer Drug

Law360, Los Angeles (February 14, 2014, 6:36 PM EST) -- A New York federal judge on Friday threw out a putative class action brought against Keryx Biopharmaceuticals Inc. and the company’s CEO by investors who said they were misled about the efficacy of perifosine, a potential cancer treatment.

Two groups of plaintiff investors filed similar lawsuits against Keryx and CEO Ronald Bentsur last February, alleging Bentsur knew or recklessly disregarded that adverse facts about the drug were not disclosed to, or were being concealed from, the investing public. The plaintiffs in the now-consolidated action said Bentsur...
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