Gilead Sciences must pay $1.8 million in attorney fees and costs after denying shareholders access to records
Biopharmaceutical company Gilead Sciences was ordered to pay attorneys fees and expenses to shareholders who were denied information they say may have shed light on alleged anticompetitive practices related to the company s breakthrough HIV antiviral drug.
The Gilead Sciences headquarters in Foster City, Calif., in April 2020. (AP Photo/Ben Margot, File)
(CN) A Delaware court on Thursday ordered Gilead Sciences Inc. to pay nearly $1.8 million in attorneys fees and legal expenses to shareholders who sued the biopharmaceutical company for records related to its development and marketing of HIV drugs.
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WILMINGTON A Delaware attorney launched a fresh legal attack on the state’s system requiring partisan balance on its courts, which often shape corporate law, just hours after the U.S. Supreme Court dismissed a similar lawsuit on Thursday.
Delaware’s Court of Chancery and the Delaware Supreme Court play a major role in Wall Street dealmaking by interpreting the state’s widely used corporate law. The Court of Chancery recently oversaw the $16 billion takeover dispute between Tiffany & Co by France’s LVMH before it settled.
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