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TORONTO (AP) - Biovail Corp., Canada's largest drug maker, filed a lawsuit Wednesday in New Jersey seeking $4.6 billion in damages from 22 defendants, mostly hedge funds and investment researchers.
The complaint alleges that Biovail was the target of a "massive and fraudulent disinformation campaign" that involved biased analyst reports from purportedly independent sources hired to do "hatchet jobs" to drive down Biovail's stock.
The suit was filed in New Jersey Superior Court.
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