NJ Court Won't Ax Ironridge Global Suit Over Pharma Stocks

Law360, Jersey City (December 18, 2015, 6:27 PM EST) -- Pharmaceutical supply chain company ScripsAmerica Inc. failed to toss Ironridge Global IV Ltd.'s suit against a third party for not transferring millions of ScripsAmerica shares, when a New Jersey judge recently ruled California litigation did not derail the equity investor's suit.

Monmouth County Superior Court Judge Katie A. Gummer preserved the case in a Nov. 13 decision, which was posted online Friday. The suit stems from a Scrips settlement with Ironridge in 2013 in which Scrips agreed to provide Ironridge with shares of Scrips common stock to resolve outstanding debt. However, Scrips later accused Ironridge of stock manipulation and refused to...

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