{"id":11306,"date":"2009-08-21T00:00:00","date_gmt":"2009-08-21T00:00:00","guid":{"rendered":""},"modified":"-0001-11-30T00:00:00","modified_gmt":"-0001-11-30T04:00:00","slug":"biovail-suit-against-sac-capital-thrown-out-by-judge","status":"publish","type":"post","link":"https:\/\/hedgeco.net\/news\/08\/2009\/biovail-suit-against-sac-capital-thrown-out-by-judge.html","title":{"rendered":"Biovail Suit Against SAC Capital Thrown Out by Judge"},"content":{"rendered":"<p>Bloomberg &#8211; A Biovail Corp. lawsuit against SAC Capital Management LLC was thrown out by a New Jersey judge for failing to state a claim.             <\/p>\n<p>Biovail accused hedge funds including SAC and Sigma Capital Management of conspiring in a short-selling scheme to drive down the drugmaker&#8217;s share price. The Mississauga, Ontario-based company also claimed Gradient Analytics Inc. helped the hedge funds by writing false reports about Biovail.     <\/p>\n<p>&ldquo;Biovail fails to elicit any specific damages, and instead relies upon a general diminution theory,&rdquo; New Jersey Superior Court Judge Donald Goldman wrote in a 51-page ruling released today. &ldquo;Biovail&#8217;s claims must be dismissed.&rdquo;     <\/p>\n<p><a title=\"Read Complete Article\" target=\"_blank\" href=\"http:\/\/www.bloomberg.com\/apps\/news?pid=20601082&#038;sid=a1bh8fN1COlE\"><strong>Read Complete Article<\/strong><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Bloomberg &#8211; A Biovail Corp. lawsuit against SAC Capital Management LLC was thrown out by a New Jersey judge for failing to state a claim. Biovail accused hedge funds including SAC and Sigma Capital Management of conspiring in a short-selling [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[15520,3314,10207,15524,15525,15519,11708,15523,15522,11183,15521,4845,15526,11827],"class_list":["post-11306","post","type-post","status-publish","format-standard","hentry","category-syndicated","tag-biovail-corp","tag-capital-management-llc","tag-damages","tag-diminution","tag-goldman","tag-gradient-analytics-inc","tag-hedge-funds","tag-mississauga-ontario","tag-new-jersey-superior-court","tag-rsquo","tag-sac-capital-management","tag-share-price","tag-sigma","tag-superior-court-judge"],"_links":{"self":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/11306","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/comments?post=11306"}],"version-history":[{"count":0,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/posts\/11306\/revisions"}],"wp:attachment":[{"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/media?parent=11306"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/categories?post=11306"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/hedgeco.net\/news\/wp-json\/wp\/v2\/tags?post=11306"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}