Bristol Myers Squibb counsel from DLA Piper told U.S. District Court Judge Jesse Furman on Friday that the UMB Bank NA had no standing to sue -- claiming the bank was not properly appointed as successor trustee.
September 06, 2024 at 04:54 PM
3 minute read
An attorney for Bristol Myers Squibb on Friday urged a New York federal judge to dismiss a $6.4 billion action against the pharmaceutical giant, claiming the plaintiff has no subject matter jurisdiction.
UMB Bank NA filed suit against Bristol Myers in 2021, alleging the company delayed approval of a cancer drug in order to dodge payments to shareholders of the former Celgene Corp. Bristol Myers acquired Celgene in 2019 for $80.3 billion.
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Hon. Jesse Furman, United States district judge for the United States District Court for the Southern District of New York. Photo: Ryland West/ALM
