DeCode Under Attack from At Least Six Class-A Lawsuits; Will They Fly? | GenomeWeb

DeCode Genetics made several “materially false and misleading statements” that artificially inflated its stock price during a 10-month period in 2003 and 2004, according to at least six separate class-action lawsuits brought against the Icelandic pharmacogenomics company.

Each of the suits, which also name as defendants CEO Kari Stefansson and CFO Lance Thibault, claim DeCode committed fraud by deliberately issuing inaccurate quarterly earnings statements, news releases, and other information between Oct. 29, 2003, and Aug. 26, 2004.

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