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Tuesday, September 4, 2007

Add another log on the fire...

Over at The 10b-5 Daily, Lyle Roberts blogged last week about the travails of Biovail Corporation (NYSE: BVF), which finds itself both as a defendant and a plaintiff in securities litigation.

Biovail_logo.gif

A quick review of the Securities Class Action Services database reveals that the company is actually the subject of litigation in two countries, also having been named as a defendant in a statement of claim lodged in the Ontario Superior Court of Justice.

Additionally, the same group of defendants in the company's suit against short-sellers of the company's stock are named as defendants in a securities class action pending in New Jersey.

Now if only we could get the short sellers to sue the shareholders, then we'd have something...

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