U.S. District Court Judge Earl B. Gilliam...

U.S. District Court Judge Earl B. Gilliam on Wednesday denied a request for a temporary restraining order that would have prohibited San Diego-based Smith Laboratories from implementing a shareholder protection plan. The order was sought by Joel Rocha Garza, a Mexico City resident who, along with Clarendon Group, an affiliated firm, owns 8.46% of Smith’s common stock.

Garza has indicated that he is interested in acquiring more of Smith’s stock. “We are pleased with Judge Gilliam’s ruling but recognize that Mr. Garza will have additional avenues to pursue in the future,” said Smith President Timothy J. Wollaeger.