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Sanofi Wins Dismissal Of Securities Action

Law360 (September 25, 2009, 5:49 PM EDT) -- A federal judge has dismissed a putative securities class action against Sanofi-Aventis alleging that the French drug company made misrepresentations regarding the side effects of anti-obesity drug rimonabant during clinical trials.

Judge George B. Daniels of the U.S. District Court for the Southern District of New York tossed the complaint Friday, saying the statements that allegedly misled investors were nothing more than expressions of opinion and were not actionable under the Securities Exchange Act of 1934.

Even if the statements were actionable, the plaintiffs, which included...
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