Insecticide Maker FMC Sued for Allegedly Hiding Patent Problems

FMC Corporation and two top executives allegedly misled investors about patent protection issues the insecticide maker faced, which opened the company up to generic competition in India, China, and Brazil, according to a proposed class action.

The Philadelphia-based company allegedly told investors falsely that it would not face generic competition in those key markets until 2026 at the earliest, and concealed details about legal proceedings in those markets from the public for nearly a year, said the complaint filed Nov. 9 in US District Court for the Eastern District of Pennsylvania.

FMC allegedly provided investors optimistic projections based upon its ...