Stiefel Urges 11th Circ. To Reverse $1.5M Stock Sale Ruling

Law360, Miami (February 26, 2014, 7:26 PM EST) -- Stiefel Laboratories Inc. on Wednesday told the Eleventh Circuit it should toss a $1.5 million ruling won by an ex-employee, saying it had no duty to disclose preliminary merger talks and was obliged to repurchase the employee's company stock.

Former Stiefel sales representative Tim Finnerty won his case in U.S. District Court against the pharmaceutical giant, which he says tricked him into selling shares back to the company at artificially low prices shortly before it was bought by GlaxoSmithKline PLC for more than $3 billion in...
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