Zyprexa Securities Suit Dismissed As Time-Barred

Law360, New York (May 1, 2008, 12:00 AM EDT) -- A U.S. judge has tossed a securities class action brought by shareholders of drugmaker Eli Lilly & Co. over its controversial anti-psychotic drug Zyprexa, saying the lawsuit was filed long after the two-year statute of limitations had expired.

Judge Judge Jack B. Weinstein, of the U.S. District Court for the Eastern District of New York, said the investors, who filed their complaint in March last year, had been on notice about Zyprexa's adverse side effects and its off-label usage years before taking action.

The shareholders, who...
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