Wednesday, July 02, 2003

More on shareholder litigation against Bristol's own King Pharmaceuticals

One of the reasons why I keep up with The 10b-5 Daily is because of the pending cases in federal (and state) court against King Pharmaceuticals. According to this story, there are now 25 pending cases against King in the E.D. Tenn.

The Kingsport paper reports here that new Judge Greer will recuse himself from hearing the King cases.

I haven't tried to unravel the allegations, but I watch these cases because the people who work for this company are among the best people I know, and I would be dumbfounded if the cases have any merit, and I wonder how many other securities fraud cases are like these. I hope the King cases go the way of this Merrill Lynch case, dismissed for failure to state a claim.

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