It was a joke unless they're in on it.
Biovail files suit alleging market manipulation
Thu Feb 23, 2006 9:54 AM EST
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NEW YORK (Reuters) - Biovail Corp. (BVF.TO: Quote), a specialty pharmaceuticals company, said on Wednesday it filed a lawsuit in New Jersey seeking $4.6 billion in damages from 22 investors who allegedly participated in a scheme to manipulate its stock price.
The complaint, filed in a New Jersey state court, alleges that the defendants, including hedge funds SAC Capital Management LLC and Sigma Capital Management LLC, violated various state laws including New Jersey's racketeering law. Triple damages would be granted if the company prevails in the case, Biovail said.
