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GeoPharma, Inc.
Court dismisses class action litigation relating to Mucotrol
November 4th, 2005
GeoPharma, Inc., (GORX) announced that a lawsuit alleging the company violated federal securities laws by issuing false or misleading public statements relating to the company's December 1, 2004, announcement of Mucotrol's clearance by the U.S. Food & Drug Administration (FDA) was dismissed on September 30, 2005, without prejudice by a judge in the United States District Court for the Southern District of New York. The judge did allow plaintiffs 20 days to attempt to replead their claims. Mihir Taneja, GeoPharma's CEO, commented: "We are extremely pleased by the Court's ruling, which granted our motion to dismiss the complaint. We are aggressively...
Source: Biotech Law Weekly (2005-11-04)
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