Judge Says Shareholders Failed To Make Specific Claims In Derivative Complaint

Judge Says Shareholders Failed To Make Specific Claims In Derivative Complaint

CHICAGO - A federal judge in Illinois on Sept. 11 dismissed a shareholder derivative lawsuit against a company's directors and officers because the shareholders failed to show with particularity where the defendants had made allegedly misleading statements (In re: BioSante Pharmaceuticals, Inc. Derivative Litigation, No. 12-cv-03480, N.D. Ill.; 2013 U.S. Dist. LEXIS 129334).

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