Suits Nail Northfield Over Blood Substitute

Law360, New York (April 17, 2006, 12:00 AM EDT) -- Northfield Laboratories Inc. has been pinned down with two securities class action lawsuits after allegedly issuing false statements concerning the safety and history of its blood substitute PolyHeme.

The lawsuits filed last week claim that Northfield and Steven A. Gould, the company’s chairman and chief executive, failed to disclose that a number of patients in a clinical study suffered heart attacks within seven days of taking PolyHeme, compared to zero heart attacks for patients who received real blood in the same study.

The lawsuits accuse Northfield...
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