Judge Refuses To Toss All Claims Against Connetics

Law360, New York (August 14, 2008, 12:00 AM EDT) -- Connetics Corp. was unable to sink a number of allegations raised in a proposed securities class action accusing the pharmaceutical firm of concealing information from shareholders about its new acne medication Velac Gel.

Judge Susan Illston of the U.S. District Court for the Northern District of California on Thursday dismissed some, but not all, of the claims in the case alleging Connetics kept stock prices artificially high by failing to disclose a 2004 study that showed the drug caused tumors in 55% of mice.

Connetics argued...
To view the full article, register now.