Judge Tosses Suit V. Funds Over Attorney Conduct

Law360, New York (February 20, 2009, 12:00 AM EST) -- In an unusual move, a federal judge has dismissed a putative class action against some hedge funds and securities analysts related to the stock of Canadian drugmaker Biovail Corp. as a sanction against the lead plaintiff and his attorneys.

In a ruling Thursday, Judge Stanley R. Chesler of the U.S. District Court for the District of New Jersey dismissed the first amended class action complaint without prejudice and without leave to amend as a sanction against two attorneys — lead counsel William B. Federman of Federman...
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