Canada's Biovail has filed a lawsuit seeking $4.6 billion in damages from a lineup of hedge funds and analysts. The defendants in the suit were charged with engaging in a "disinformation" campaign aimed at driving the company's stock down. The group allegedly orchestrated "bear attacks" on Biovail to push its stock price down to the defendants' advantage. One of the defendants, Greenwich, CN-based S.A.C., called the charges outrageous and defamatory and vowed to fight the charges in court.
- read this AP report