Lawsuit against drug maker KV Pharmaceutical and subsidiary

An investor class action lawsuit was filed against the KV Pharmaceutical Company, the the parent company of Ethex Corp. The lawsuit was filed on December 2, 2008, in the United States District Court for the Eastern District of Missouri on behalf of investors who purchased Class A Common Stock (NYSE: KV-A), Class B Common Stock (NYSE: KV-B) and 7% cumulative convertible Preferred Stock (Symbol: KVPHP) between February 15, 2008 and November 12, 2008.

The investor class action lawsuit alleges that KV Pharmaceutical made false and misleading statements about their compliance with FDA regulations regarding the manufacture and marketing of generic drugs and failed to disclose that their manufacturing facilities were in disarray, resulting in the sale of unsafe drugs that may contain more than the intended levels of the active drug.

KV Pharmaceutical and Ethex Corporation also face potential liability from product liability lawsuits being pursued by users who suffered morphine overdose or other injuries caused by the double strength tablets that were sold.

Source: AboutLawsuits.com

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