Class Action Against Pharmaceutical Co. Dismissed

Law360, New York (September 5, 2006, 12:00 AM EDT) -- A federal judge has thrown out a shareholder class action suit against IntraBiotics Pharmaceuticals Inc. after the plaintiffs, reeling from the court’s decision last month to dismiss half of their claims, failed to file the necessary papers to keep the case alive.

On Aug. 1, Judge Jeffery S. White dismissed the claims filed under the Securities Exchange Act of 1934, ruling that plaintiffs had not submitted enough evidence to prove that the company made a material misstatement or omission, a requirement for filing claims under the...
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