Reported 9 days ago
Bristol Myers Squibb is facing a $6.7 billion lawsuit, claiming it defrauded former Celgene shareholders by delaying approval for three drugs, notably the cancer treatment Breyanzi. This renewed lawsuit follows the dismissal of an earlier case due to issues with the appointed trustee. The complaint states that Bristol Myers' delays resulted in shareholders missing out on an additional $9 per share in cash, which the company allegedly aimed to avoid to prevent large payouts.
Source: YAHOO