Keryx Fights Investor's Bid To Lead Kidney Drug Stock Suit
Law360, Boston (June 19, 2019, 9:48 PM EDT) -- A Keryx investor seeking to lead a shareholder class action over a 2016 stock drop shouldn’t head up the suit because his shares were bought through a now-defunct trust and the vital information allegedly hid by the company was actually disclosed, a Massachusetts federal judge heard Wednesday.
In a hearing over class certification and Keryx Biopharmaceuticals Inc.'s motion for a judgment to escape the suit, attorneys for the Boston-based pharmaceutical company claimed a number of factors should defeat shareholder Tim Karth’s efforts to certify and lead a class. One such issue is that he bought his shares through a trust that...
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