Panel: Investor Failed To Plead Strong Inference Of Scienter In Securities Suit
Mealey's (October 12, 2016, 3:23 PM EDT) -- BOSTON — A federal judge did not err in dismissing a securities class action complaint against a pharmaceutical company and certain of its executive officers and directors because a shareholder failed to properly plead scienter, a First Circuit U.S. Court of Appeals panel ruled Oct. 3 (Local No. 8 IBEW Retirement Plan v. Vertex Pharmaceuticals Inc., et al., No. 15-2250, 1st Cir.).
(Opinion available. Document #57-161017-026Z.)
Shareholder Local No. 8 IBEW Retirement Plan filed a securities class action complaint in the U.S. District Court for the...