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Arkansas Teacher Retirement System Claims Drug Testing Company Violated Procedures in Clinical Trials

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Case ID: 4684 | Drugs / Medical | 03/02/2006

The Arkansas Teacher Retirement System filed a class action lawsuit against SFBC International, a drug testing company accused of violating regulatory procedures in administering clinical trials.

Attorneys for ATRS are pursuing the lawsuit on several claims under the Securities Exchange Act of 1934. SFBC is accused of making misleading statements, rigging drug tests for favorable outcomes and threatening drug-test participants with deportation, ATRS attorneys said. SFBC's chairman, president, CEO, treasurer, and vice president for legal affairs have all resigned in response to allegations of wrongdoing.

ATRS is a public pension fund system for employees of Arkansas public schools and certain Arkansas state agencies, colleges and universities.


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