Delaware Chancery Court Vice Chancellor Sam Glasscock III rejected a motion to dismiss the lawsuit saying that while the company's directors were not omniscient, the board "ignored such red flags that did exist" and "permitted a woefully inadequate reporting system."
The lawsuit, filed by a pension fund invested in the company, claimed that the company's unit used the contaminated overflows of its pre-filled cancer drug syringes and illegally sold them, the report said.
The company's representatives did not immediately respond to a request for comment, Bloomberg said.
Price: 97.36, Change: -0.21, Percent Change: -0.22
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