Claims Tossed In Suit Against Biotech Company

Law360, New York (August 4, 2006, 12:00 AM EDT) -- An embattled biotech company and its disgruntled shareholders will have to go another round in court, after a California judge dismissed half the plaintiffs’ claims.

In the consolidated class action suit filed against IntraBiotics Pharmaceuticals Inc. in the U.S. District Court for the Northern District of California, a judge has dismissed the shareholder claims filed under the Securities Exchange Act of 1934.

Judge Jeffery S. White ruled that plaintiffs had not submitted enough evidence to prove that the company made a material misstatement or omission, a...
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