Biovail Settles Canadian Cardizem Suit

Law360, New York (April 23, 2008, 12:00 AM EDT) -- Pharmaceutical company Biovail Corp. has put another shareholder class action behind it, agreeing to settle with a Canadian pension fund that claimed the company made misleading statements in promoting its hypertension drug Cardizem LA.

Biovail said Wednesday that it had entered into a settlement agreement with the Canadian Commercial Workers Industry Pension Plan under which the fund will be entitled to part of the $138 million settlement reached in a parallel class action last year. Neither the Toronto-based company nor any of the individual defendants named...
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