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Tibet Pharma Observers Not Liable In IPO Row, 3rd Circ. Told

By Jeannie O'Sullivan ( February 12, 2019, 6:29 PM EST) -- Two defendants in a class action accusing Tibet Pharmaceuticals Inc. of misleading investors about its financial health before its 2011 initial public offering urged the Third Circuit to toss the last claim against them, arguing Tuesday that they were board observers who can't be held liable for the conduct of the more powerful directors....

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