Berman Tabacco

ICN/Viratek

In re ICN/Viratek Securities Litigation, No. 87 cv 4296 (S.D.N.Y.)

After a six-week trial that resulted in a hung jury, this securities fraud class action settled for $14.5 million. Plaintiffs alleged that defendant pharmaceutical company and its officers misrepresented results of clinical trials of its AIDS drug. The claim was that randomization was destroyed by identifying sicker patients and giving them a placebo, creating the impression that the drug was effective.

Case Information

  • Settlement Amount:
    $14,500,000