The U.S. Supreme Court refused to stop a shareholder suit that says Foster City-based Gilead Sciences Inc. inflated its stock price by concealing its reliance on illegal marketing of its Viread AIDS medicine. The justices, without comment, Monday turned away Gilead's appeal of a ruling that said the lawsuit's accusations were specific enough for the case to move forward. Viread last year produced $621 million in worldwide sales for Gilead, the biggest U.S. supplier of AIDS drugs. The shareholders say Gilead deceived them in 2003 by not revealing that 75 percent to 95 percent of Viread's sales at that time stemmed from efforts to encourage so-called off-label uses, those not approved by the Food and Drug Administration.
Fremont-based Volterra Semiconductor Corp. lost $500,000, or 2 cents a share, on revenues of $18.3 million, for its first quarter of 2009 ended March 31. In the year-ago quarter, the semiconductor company earned $2.5 million, or 10 cents a share. Revenues fell 21 percent. "I am pleased with our financial performance as revenue and non-GAAP earnings were in line with our guidance despite these challenging market conditions," Volterra 's President and CEO Jeff Staszak said.
Darim Vision Corp. has bought a small office building in Livermore's Montevina project. Darim paid $1.2 million for the 3,600-square-foot building, located near Interstate 580 and Airway Boulevard. The building, sold through Cornish & Carey, is the first building sold in Montevina's $40 million first phase. ExTerra Realty developed Montevina. ... Fremont-based WaferGen Biosystems Inc. has raised $1.5 million through a private investment in its Malaya-based subsidiary, the maker of software for genetic analysis said. ... Camping World, the nation's largest RV and outdoor retailer today announced that it will hold a grand opening celebration at its newest SuperCenter in Vacaville from Thursday through Sunday. Camping World of Vacaville is located at 5065 Quinn Road, just off Interstate 80 and is a relocation of the Fairfield store to a larger facility. For more info, call 1-800-448-1253
Compiled from staff and wire reports. Got Bay Area business news? Reach Drew Voros at 925-943-8099 or email@example.com.