ICN Pharmaceuticals faced a lawsuit for fraud.
The Costa Mesa, Calif., drug maker was accused Friday, in a shareholder lawsuit, of fraudulently inflating its stock price. The suit, filed in U.S. District Court in Los Angeles by a New Jersey investor, follows disclosures that ICN is the subject of three federal investigations, including one by the House Energy and Commerce Committee. An attorney for ICN declined comment on the suit. ICN’s drug Virazole is being tested as a possible AIDS medication.
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