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Court rules that firm’s case seeking over $80 million on behalf of biotech co. against billionaire Paul Fireman can proceed to trial.

Jan 16, 2024 | Business Litigation, News, Recent Wins

Massachusetts Lawyers Weekly reported this week on the firm’s summary judgment win on behalf of its biotech client. The company alleged in its Superior Court complaint that the CEO and his father-in-law Paul Fireman misled the Board about ongoing sale efforts to dupe the company into selling its assets to Fireman. Hembio alleges that Fireman then sold those assets to Jansen Pharmaceuticals in a deal worth at least $80 million and potentially hundreds of millions of dollars. A judge of the Business Litigation Session Hembio Summary Judgment on the breach of fiduciary duty and aiding and abetting claims, allowing the claims to go to trial notwithstanding the defendants’ argument that the claims are barred by releases.