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Bristol-Myers Oversold Lung Cancer Drug, Investors Say

Law360 (February 12, 2018, 6:05 PM EST) -- Bristol-Myers Squibb Co. was slapped with a putative class action in California federal court on Friday, alleging company officials deceived investors about the prospects for its lung cancer drug, which resulted in artificially inflated company stock prices that plunged when the therapy failed its clinical trial.

The complaint, filed in the U.S. District Court for the Northern District of California, alleges that the company and several current and former executives, including CEO and Chairman Giovanni Caforio, told investors that the clinical trial would back the efficacy...
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Case Information

Case Title

Giugno v. Bristol-Myers Squibb Company et al


Case Number

3:18-cv-00878

Court

California Northern

Nature of Suit

Securities/Commodities

Judge

Vince Chhabria

Date Filed

February 9, 2018

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