I am sure that many of you, like me, felt a satisfying wave of schadenfreude when you heard the news last week that biotech bad boy Martin Shkreli had been arrested on securities fraud charges. Shkreli became the poster-child for drug company price-gouging after his company, Turing Pharmaceuticals, increased the price of Daraprim, a life-saving drug, by over 5,000 percent. However, his arrest is unrelated to his activities at Turing. Instead, his arrest relates to his previous activities as a hedge fund portfolio manager and involves a different biotech company, Retrophin Pharmaceuticals, which Shkreli founded and took public, and at which Shkreli had served as CEO until September 2014.
Continue Reading Biotech Bad Boy Shkreli Hit With Securities Class Action Lawsuit
securities lawsuits against pharmaceutical companies
Two Prominent Life Sciences Securities Lawsuits Dismissed
By Kevin LaCroix on
Posted in Securities Litigation
As I have previously observed (most recently here), life sciences companies remain favored targets of the plaintiffs’ class action securities bar. Even during the two-year securities lawsuit filing lull between mid-2005 and mid-2007, lawsuit filings against life sciences companies continued more or less unabated. Indeed, as I noted here, during 2007, a year…