Racketeering Lawsuit by Biovail Backfires Against Company and Lawyers

Company's litigation tactics are in spotlight, as Biovail execs and lawyers from Howrey and Kasowitz Benson feel the heat

, The American Lawyer

Biovail Corp. was supposed to be the victim, the ill-used dupe of powerful hedge funds, analysts and bankers, whose short-selling scheme to spread false information about the company led to a plunge in its share price in 2003. And Biovail's respected litigators from Howrey and Kasowitz Benson were to be the ones to help the company prove it. How did the company's "extremely well-lawyered" legal strategy blow up in the faces of Biovail executives and lawyers, now the ones under scrutiny?

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