UMB Bank, N.A. v. Bristol-Myers Squibb Company
Case Number:
1:21-cv-04897
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September 30, 2024
Bristol-Myers Beats Celgene Investors' Drug Delay Suit
A New York federal judge on Monday tossed UMB Bank's claims that Bristol-Myers Squibb improperly delayed U.S. Food and Drug Administration approval of a cancer treatment to avoid paying shareholders $6.4 billion owed from a 2019 acquisition of Celgene Corp., saying the bank lacked standing to sue.
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June 24, 2022
Bristol-Myers Can't Dodge Celgene Investors' Drug Delay Suit
UMB Bank can pursue its claims that Bristol-Myers Squibb improperly delayed U.S. Food and Drug Administration approval of a cancer treatment to avoid paying $6.4 billion owed from a 2019 acquisition of Celgene Corp., because the bank "has the better reading" of the contract, a New York federal judge has ruled.