Who’s a hockey puck? The Canadian drugmaker, which is suing 22 research analysts and hedge funds for allegedly conspiring to drive down its stock price, has agreed to drop its claim again Dave Maris (that’s him to the left) and his employer, Banc of America Securities, The New York Post reports. What’s more, Biovail also agreed to pay the firm $2 million in legal fees, according to a person familiar with the proceedings.

The lawsuit alleged that Maris intentionally published misleading research on Biovail so that a hedge fund client, a unit of SAC Capital Advisors, could profit from a decline in its stock price. Though Biovail’s former chairman, Eugene Melnyk, was supposedly confident about his case against Maris, the paper writes that Biovail’s evidence wasn’t as compelling as Melnyk claimed.

The drugmaker alleged that Maris improperly and misleadingly quoted three forensic accounting experts hired by BAS to report on Biovail’s accounting, but after reviewing the material the Post writes that Maris accurately quoted their analyses, which ranged from critical to scathing.

Biovail and Melnyk have also been sued by former BAS analyst Jerry Treppel, who claims the company smeared him after he issued a sell rating on its stock. Melnyk also sued Treppel for slander.

More recently, Biovail’s lead lawyer in the current battle against short-sellers, Mark Kasowitz, got thrown off the case when his firm was accused of intentionally mishandling evidence by applying materials obtained in the discovery phase of one lawsuit to another case.

Meanwhile, the Securities and Exchange Commission and federal prosecutors are conducting investigations into Biovail’s public statements, accounting and the use of an off-shore research subsidiary. Maris’ lawyers at BAS declined to comment. A spokesman for Biovail did not respond by press time, the Post reports.