Israeli Pharma Co. Wants NY Stock-Drop Class Suit Tossed
Law360 mentions Troutman Sanders in a story about developments in a proposed securities fraud class action against Kitov Pharmaceutical Holdings Ltd. Plaintiffs are alleging the Israel-based company falsified clinical trial results for a hypertension treatment, causing share prices to drop. Kitov has asked a federal judge to toss the proposed class action, writing, “Plaintiffs’ claims are premised entirely on conclusory statements which are unsupported by any factual allegations and are, in fact, refuted by the very same disclosures challenged in the complaint, as well as by the public documents upon which plaintiffs rely in the complaint.” Troutman Sanders’ Aurora Cassirer, Bennet Moskowitz, Patrick Ryan and Mary Weeks represented Kitov.