A Canadian pharmaceutical company has filed a RICO suit in New Jersey state court, alleging that a hedge fund and stock analysts conspired to drive down its stock price to benefit short sellers.
Biovail Corp. of Ontario, and its subsidiary, Biovail Pharmaceuticals Inc. of Bedminster, are seeking $4.6 billion in damages in the Essex County suit, which alleges the defendants conducted a disinformation campaign to hurt its stock.
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