Executives and directors of neurodegenerative disease drugmaker Brainstorm Cell Therapeutics have been hit with a proposed class action alleging they damaged the company by overstating the effectiveness of its Lou Gehrig's disease drug even after the U.S. Food and Drug Administration rejected its license application.
Shareholders of Diamondback Energy Inc. have hit the company and its directors in Delaware's Chancery Court with a proposed class action, claiming its board members wrongfully voted in their own self-interest when approving Diamondback's $26 billion acquisition of another energy company with terms that will give the board members control over their reelection.
Adidas AG is urging an Oregon federal court to drop a suit accusing it of failing to disclose the potential damage caused by its partnership with musician Ye, formerly known as Kanye West, following the artist's antisemitic comments, arguing its risk disclosures did not invoke a duty to disclose Ye's prior misconduct.
Top brass at artificial intelligence-driven biopharmaceutical company BioXcel Therapeutics Inc. have been hit with a shareholder derivative suit alleging they took too long to disclose a U.S. Food and Drug Administration probe of its development of an Alzheimer's treatment and its lead clinical trial investigator's compliance issues.
A Pennsylvania federal judge has refused to dismiss Meridian Bank's suit accusing former employees and a Maryland-based competitor bank of misappropriating Meridian's trade secrets, ruling that the suit adequately shows employment agreements signed by Meridian's former employees determine that the court has personal jurisdiction over them.