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American Pharmaceutical Partners Announces That Plaintiffs Voluntarily Dismiss Class Action and Derivative LawsuitsSchaumburg, Ill | March 14, 2005
American Pharmaceutical Partners, Inc. (Nasdaq: APPX) (APP) today announced that the class action lawsuit filed against APP, certain of its officers and American BioScience, Inc. (ABI) has been voluntarily dismissed by the plaintiff. A related derivative lawsuit filed against certain of APP's directors and officers has also been voluntarily dismissed by the plaintiff. These actions alleged that the defendants purportedly made false and misleading statements regarding ABRAXANE(TM). No payment to the plaintiffs was made by or on behalf of any party in connection with the dismissal of these lawsuits. "The company has always maintained that these lawsuits were without merit, and we are pleased that this legal distraction now is behind us," said Al Heller, APP president and chief executive officer.
Executive Vice President & CFO of American Pharmaceutical Partners, Inc.
or Rob Whetstone, or Robert Jaffe
for American Pharmaceutical Partners, Inc
Copyright © American Pharmaceutical Partners
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