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CV Therapeutics Inc., of Palo Alto, is facing class-action suits from attorneys on both coasts for alleged false statements about its latest product.
Milberg Weiss in San Diego is suing CV Therapeutics in U.S. District Court for the Northern District of California, saying the company concealed information about its drug Ranexa, a treatment for chronic angina. The lack of information provided to investors caused an inflation of the company's common stock, the lawsuits allege.
Cauley Geller Bowman & Rudman LLP in New York also has filed a lawsuit against CV Therapeutics in the same court for similar reasons.
Both firms have filed a long list of complaints for the handling of information related to Ranexa. The plaintiffs' cases can be reviewed at www.milberg.com and www.cauleygeller.com.
CV Therapeutics says "the claims are meritless and [it] will defend against them vigorously."
Ranexa was to be reviewed by the Cardiovascular and Renal Drugs Advisory Committee of the U.S. Food and Drug Administration in September, but CV Therapeutics negotiated a delay...