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Biotech Takes Smaller Share Of Securities Suits In '08

Law360 (April 14, 2009, 12:00 AM EDT) -- Although the number of life science and pharmaceutical firms hit with class action securities lawsuits held fairly steady in 2008, they made up a far smaller percentage of the total number filed because litigation linked to the global financial crisis surged, a new report from Dechert LLP says.

In all, 23 separate pharmaceutical and biotechnology companies were sued for alleged securities fraud in 2008, a slight slip from the 25 separate firms sued on such claims in 2007. But the 23 firms sued in 2008 made...
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