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Case Status:    DISMISSED    
On or around 10/03/2006 (Date of order of final judgment)

Filing Date: July 02, 2004

In orders dated August 1, 2006 and August 30, 2006, the court dismissed with prejudice all Plaintiffs' complaints. On October 3, 2006, the Court entered the Judgment signed by U.S. District Judge Jeffrey S. White. Judgment was entered in favor of the Defendants and against Plaintiffs.

According to the Order dated August 30, 2006, on August 1, 2006, the Court granted Defendants’ motion to dismiss Plaintiffs’ third and fourth claims with prejudice and reserved ruling on Defendants’ motion to amend or certify for interlocutory appeal the Court’s prior order regarding Plaintiff’s first and second claims. The Court directed the parties to file supplemental briefing with respect to the first and second claims in accordance with the order issued on August 1, 2006, and informed Plaintiffs that the Court would dismiss their first and second claims with prejudice if they did not file a supplemental brief by August 18, 2006. Plaintiffs failed to file a supplemental brief. Accordingly, for the reasons stated in the order issued on August 1, 2006, the Court hereby dismisses Plaintiffs’ first and second claims with prejudice.

According to the Order issued by U.S. District Judge Jeffrey S. White on August 1, 2006, the Court grants Defendants’ motion to dismiss Plaintiffs’ third and fourth claims with prejudice. The Court reserves ruling on Defendants’ motion to amend or certify for interlocutory appeal the Court’s prior order regarding Plaintiff’s first and second claims and directs the parties to file supplemental briefing with respect to this claims in accordance with this Order. If Plaintiffs do not file a supplemental brief, the Court will dismiss their first and second claims with prejudice.

On February 22, 2006, the plaintiffs filed a Second Consolidated Amended Complaint. On March 14, 2006, the defendants filed a motion to dismiss the Second Consolidated Amended Complaint.

Pursuant to the Order dated January 23, 2006, the Court grants in part and denies in part Defendants’ motion to dismiss as follows: (1) the Court grants Defendants’ motion to dismiss Plaintiffs’ first and second claims with leave to amend; and (2) the Court denies Defendants’ motion to dismiss Plaintiffs’ third and forth claims. Plaintiffs shall file any amended complaint within thirty days of the date of this Order.

The original Complaint alleges that IntraBiotics, a biopharmaceutical company, and certain of its officers and directors issued materially false statements concerning the Company's drug iseganan. Specifically, defendants failed to disclose: (i) that iseganan was not safe and well-tolerated at therapeutically relevant doses when administered to the oral cavity; (ii) that the drug caused a higher rate of ventilator - associated pneumonia ('VAP') and mortality as compared to placebo; (iii) that despite knowing and/or recklessly disregarding the aforementioned facts, the defendants nevertheless raised capital through offerings of its common stock in order to portray to the market that iseganan was a viable marketable product that was on the 'fast track' to FDA approval; and (iv) that as a result of the above, the defendants statements concerning iseganan were lacking in any reasonable basis.

The complaint further alleges that on or around June 23, 2004, the Company announced that an independent data monitoring committee recommended to IntraBiotics that it discontinue its pivotal trial of iseganan for the prevention of VAP based on an interim analysis of the data. On this news, IntraBiotics fell $9.45 per share or 69%, to close at $4.23 per share.

COMPANY INFORMATION:

Sector: Healthcare
Industry: Biotechnology & Drugs
Headquarters: United States

SECURITIES INFORMATION:

Ticker Symbol: IBPI
Company Market: NASDAQ
Market Status: Public (Listed)

About the Company & Securities Data


"Company" information provides the industry and sector classification and headquarters state for the primary company-defendant in the litigation. In general, "Securities" information provides the ticker symbol, market, and market status for the underlying securities at issue in the litigation.

In most cases, the primary company-defendant actually issued the securities that are the subject of the litigation, and the securities information and company information relate to the same entity. In a small subset of cases, however, the primary company-defendant is not the issuer (for example, cases against third party brokers/dealers), and the securities information and company information do not relate to the same entity.
COURT: N.D. California
DOCKET #: 04-CV-02675
JUDGE: Hon. Jeffrey S. White
DATE FILED: 07/02/2004
CLASS PERIOD START: 09/05/2003
CLASS PERIOD END: 06/22/2004
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Bernstein Liebhard & Lifshitz, LLP (New York)
    10 E. 40th Street, 22nd Floor, Bernstein Liebhard & Lifshitz, LLP (New York), NY 10016
    800.217.1522 · info@bernlieb.com
  2. Brodsky & Smith, LLC (former Pennysylvania)
    11 Bala Avenue, Suite 39, Brodsky & Smith, LLC (former Pennysylvania), PA 19004
    610.668.7987 610.660.0450 · esmith@Brodsky-Smith.com
  3. Green & Jigarjian LLP
    235 Pine Street, 15th Floor, Green & Jigarjian LLP, CA 94104
    415.477.6700 415.477.6710 ·
  4. Law Offices of Bruce G. Murphy
    265 Llwyds Lane, Law Offices of Bruce G. Murphy, FL 32963
    561.231.4202 ·
  5. Law Offices of Charles J. Piven, P.A.
    World Trade Center-Baltimore,401 East Pratt Suite 2525, Law Offices of Charles J. Piven, P.A., MD 21202
    410.332.0030 · pivenlaw@erols.com
  6. Milberg Weiss Bershad & Schulman LLP
    355 South Grand Avenue, Suite 4170, Milberg Weiss Bershad & Schulman LLP , CA 90071
    213.617.9007 213.617.9185 · info@milbergweiss.com
  7. Milberg Weiss Bershad & Schulman LLP (New York)
    One Pennsylvania Plaza, 49th Floor, Milberg Weiss Bershad & Schulman LLP (New York), NY 10119
    212.594.5300 212.868.1229 · info@milbergweiss.com
  8. Murray, Frank & Sailer LLP
    275 Madison Ave 34th Flr, Murray, Frank & Sailer LLP, NY 10016
    212.682.1818 212.682.1892 · email@murrayfrank.com
  9. Schatz & Nobel, P.C.
    330 Main Street, Schatz & Nobel, P.C., CT 06106
    800.797.5499 860.493.6290 · sn06106@AOL.com
  10. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
No Document Title Filing Date
COURT: N.D. California
DOCKET #: 04-CV-02675
JUDGE: Hon. Jeffrey S. White
DATE FILED: 02/22/2006
CLASS PERIOD START: 09/05/2003
CLASS PERIOD END: 06/22/2004
PLAINTIFF FIRMS NAMED IN COMPLAINT:
  1. Green Welling LLP (San Francisco)
    235 Pine Street, 15th Floor, Green Welling LLP (San Francisco), CA 94104
    415.477.6700 415.477.6710 · gw@classcounsel.com
  2. Murray, Frank & Sailer LLP
    275 Madison Ave 34th Flr, Murray, Frank & Sailer LLP, NY 10016
    212.682.1818 212.682.1892 · email@murrayfrank.com
  3. Schiffrin & Barroway LLP
    3 Bala Plaza E, Schiffrin & Barroway LLP, PA 19004
    610.667.7706 610.667.7056 · info@sbclasslaw.com
No Document Title Filing Date
No Document Title Filing Date