SAN FRANCISCO — The California Supreme Court declined Wednesday to review a $400 million verdict against a Swiss pharmaceutical company, despite warnings from business interests that the ruling could throw a wrench into corporate acquisitions.
None of the justices voted to grant review in Asahi Kasei Pharma v. Actelion, a tortious interference case that included $30 million in punitive damages against three Actelion executives. The First District Court of Appeal affirmed the award in December, leading one corporate lawyer to dub it “the most frightening holding of 2013″ for executives.
