![](http://investorshub.advfn.com/images/default_ih_profile2_4848.jpg?cb=0)
Tuesday, June 13, 2006 8:27:41 AM
Court Dismisses Baseless Unfair Business Practices Lawsuit That Was Brought Against Insmed
E-mail | Print | | Disable live quotes Last Update: 8:04 AM ET Jun 13, 2006
RICHMOND, Va., Jun 13, 2006 (BUSINESS WIRE) -- Insmed Incorporated (INSM : insmed inc com new
News , chart, profile, more
Last: 1.41-0.07-4.73%
8:11am 06/13/2006
Delayed quote dataAdd to portfolio
Analyst
Create alertInsider
Discuss
Financials
Sponsored by:
INSM1.41, -0.07, -4.7%) : On June 9, 2006, the United States District Court for the Northern District of California (Judge Saundra Brown Armstrong) granted Insmed's Motion to Dismiss the Complaint filed by Tercica, Inc. in the case Tercica, Inc. vs. Insmed Incorporated. The Complaint, filed and amended in December 2005, alleged violations of the California Business and Professions Code and the federal Lanham Act for allegedly false and misleading statements made by Insmed. In dismissing the Complaint, the Court ruled, among other things, that Tercica had not met its burden of establishing that the alleged statements made by Insmed constitute "false advertising", or that the Court had jurisdiction over Insmed in this case and that the venue was proper. Further, by dismissing Tercica's complaint without leave to amend, the Court recognized that the deficiencies in Tercica's lawsuit cannot be cured by filing another lawsuit against Insmed in the United States District Court for the Northern District of California. Insmed previously notified Tercica that Insmed would seek fees and costs related to Tercica's baseless lawsuit. Given the Court's ruling, Insmed will pursue this option.
"We are pleased that the Court ruled that Tercica's complaint was without merit and upheld Insmed's right to inform the investment community about our product development activities related to IPLEX(TM) without violating the Lanham Act," stated Geoffrey Allan, Insmed's Chief Executive Officer. "In line with Tercica's continuing preference to litigate, Tercica has indicated they have filed a new lawsuit against Insmed in the Virginia courts that is similar to the lawsuit dismissed in California. As with the California case, Insmed will vigorously defend its position and right to inform the investment community about product development activities."
About Insmed
Insmed is a biopharmaceutical company focused on the development and commercialization of drugs for the treatment of metabolic diseases and endocrine disorders with unmet medical needs. For more information, please visit www.insmed.com.
Forward Looking Statements
Statements included within this press release, which are not historical in nature, may constitute forward-looking statements for the purposes of the safe harbor provided by the Private Securities Litigation Reform Act of 1995. Forward-looking statements in this press release include, but are not limited to, statements regarding the pending litigation and or future ability to conduct our business as now conducted and as it is currently proposed to be conducted. Such forward-looking statements are subject to numerous risks and uncertainties, including but not limited to the uncertainty of the outcome of any litigation with Tercica. We can give no assurances that we would be successful in any litigation or that such litigation would not have a material adverse effect on our business, financial condition and results of operation. Furthermore, we may not be able to afford the expense of defending against such a claim. As a result of these and other risks and uncertainties, actual results may differ materially from those described in this press release. For further information with respect to factors that could cause actual results to differ from expectations, reference is made to reports filed by the Company with the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended.
SOURCE: Insmed Incorporated
Insmed Incorporated Public Relations: Natalie Wyeth, 202-835-9473 natalie.wyeth@ketchum.com or Investor Relations: Tim Ryan, 212-477-9007 x24 tryan@troutgroup.com Copyright Business Wire 2006 ********************************************************************** As of Friday, 06-09-2006 23:59, the latest Comtex SmarTrend(SM) Alert, an automated pattern recognition system, indicated a DOWNTREND on 02-23-2006 for INSM @ $2.20. (C) 2006 Comtex News Network, Inc. All rights reserved.
CABBY
Recent INSM News
- Insmed Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4) • PR Newswire (US) • 07/05/2024 12:00:00 PM
- Additional Positive Data from Pivotal ASPEN Study of Brensocatib in Patients with Bronchiectasis to be Presented at the 7th World Bronchiectasis Conference • PR Newswire (US) • 07/03/2024 01:03:00 PM
- Insmed Announces Redemption of all $225 Million of Outstanding 1.75% Convertible Senior Notes Due 2025 • PR Newswire (US) • 06/27/2024 12:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/13/2024 12:00:32 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/12/2024 08:21:15 PM
- Insmed Reports Inducement Grants Under NASDAQ Listing Rule 5635(c)(4) • PR Newswire (US) • 06/07/2024 12:00:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/05/2024 08:23:25 PM
- Insmed To Present at the Goldman Sachs 45th Annual Global Healthcare Conference • PR Newswire (US) • 06/05/2024 12:00:00 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/04/2024 11:00:43 AM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 06/03/2024 08:33:48 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/30/2024 09:46:15 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/30/2024 09:45:16 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/30/2024 09:44:10 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/30/2024 09:43:10 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/30/2024 09:41:25 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 05/30/2024 09:32:49 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/30/2024 08:15:33 PM
- Insmed to Host Commercial Webinar on June 4, 2024 • PR Newswire (US) • 05/30/2024 08:05:00 PM
- Form 424B5 - Prospectus [Rule 424(b)(5)] • Edgar (US Regulatory) • 05/30/2024 08:02:27 PM
- Insmed Announces Pricing of $650 Million Public Offering of Common Stock • PR Newswire (US) • 05/30/2024 12:00:00 PM
- Insmed Announces Proposed $500 Million Public Offering of Common Stock • PR Newswire (US) • 05/28/2024 10:21:00 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/28/2024 08:51:26 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/28/2024 08:49:20 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/28/2024 08:47:36 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/28/2024 08:46:34 PM
Glidelogic Corp. Becomes TikTok Shop Partner, Opening a New Chapter in E-commerce Services • GDLG • Jul 5, 2024 7:09 AM
Freedom Holdings Corporate Update; Announces Management Has Signed Letter of Intent • FHLD • Jul 3, 2024 9:00 AM
EWRC's 21 Moves Gaming Studios Moves to SONY Pictures Studios and Green Lights Development of a Third Upcoming Game • EWRC • Jul 2, 2024 8:00 AM
BNCM and DELEX Healthcare Group Announce Strategic Merger to Drive Expansion and Growth • BNCM • Jul 2, 2024 7:19 AM
NUBURU Announces Upcoming TV Interview Featuring CEO Brian Knaley on Fox Business, Bloomberg TV, and Newsmax TV as Sponsored Programming • BURU • Jul 1, 2024 1:57 PM
Mass Megawatts Announces $220,500 Debt Cancellation Agreement to Improve Financing and Sales of a New Product to be Announced on July 11 • MMMW • Jun 28, 2024 7:30 AM