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IN RE GPC BIOTECH AG SECURITIES LITIGATION

No. 07 Civ. 06728(DC).

597 F.Supp.2d 412 (2009)

In Re GPC BIOTECH AG SECURITIES LITIGATION.

United States District Court, S.D. New York.

February 13, 2009.

Attorney(s) appearing for the Case

Labaton Sucharow LLP, by Joel H. Bernstein, Esq., New York, NY, for Lead Plaintiff Axxion S.A. Luxemburg.

Abbey Spanier Rodd & Abrams, LLP, by Nancy Kaboolian, Esq., Richard B. Margolies, Esq., New York, NY, for Plaintiff Agamemnon Chua.

Morgan, Lewis & Bockius LLP, by Bernard J. Garbutt III, Esq., New York, NY, Marc J. Sonnenfeld, Esq., William P. Quinn, Jr., Esq., Karen Pieslak Pohlmann, Esq., Philadelphia, PA, for Defendants GPC Biotech AG, Bernd R. Seizinger, Mirko Scherer, Elmar Maier, and Sebastian Meier-Ewert.

OPINION

CHIN, District Judge.

In this securities fraud case, plaintiffs allege that defendants made material misrepresentations and omissions concerning the Food and Drug Administration ("FDA") "fast track" approval process of an experimental anti-cancer drug, Satraplatin. According to plaintiffs, the misrepresentations and omissions artificially inflated the stock price of the pharmaceutical company. Upon news that the FDA did not have experience...

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