Discovery Laboratories, Inc. Class Action Dismissed

Shareholders tried to file a class action lawsuit against the company and two of its executive officers alleging securities fraud. The complaint alleged violations of Section 10 of the Securities Exchange Act of 1934, Rule 10b-5 and Section 20 of the Exchange Act in connection with various public statements made by Discovery Laboratories. The United States District Court for the Eastern District of Pennsylvania dismissed, without prejudice, the consolidated amended class action complaint. (Nov-06-06) [TRADING MARKETS: DISCOVERY DISMISSED]