Judge: Shareholders Failed To Plead Loss Causation In Making Securities Claims
Mealey's (May 24, 2016, 9:05 AM EDT) -- SAN FRANCISCO — Dismissal of an amended complaint in a securities class action lawsuit is proper because shareholders failed to properly plead loss causation in making their federal securities law claims against a biotechnology company and others, a federal judge in California ruled May 20 (Francis J. Bonanno v. Cellular Biomedicine Group Inc., et al., No. 15-1795, N.D. Calif.; 2016 U.S. Dist. LEXIS 66841).
(Order available. Document #57-160620-012R.)
Shareholders Michelle Jackson, Ervin Windom, Ding Liang and Beverly Nissenbaum filed an amended complaint in the U.S. District...