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Class Action Suit Filed Over Stock Price Tampering

Law360 (March 28, 2006, 12:00 AM EST) -- The web of allegations that has entangled hedge funds, research firms, several corporations, and federal investigators continues to expand, with plaintiffs lobbing a class-action suit alleging stock price manipulation at SAC Capital Management.

In the suit, plaintiffs allege that hedge fund SAC Capital fed negative and false information about the drug maker to analysts at research firm Gradient Analytics.

“This action arises from a massive, illegal and continuing stock market manipulation scheme, which has targeted and severely harmed Biovail, among other companies, which has resulted in...
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