Claims In Securities Class Action Against Drug Maker Found To Be Insufficient

Mealey's (April 3, 2018, 2:04 PM EDT) -- NEW YORK — Although lead plaintiffs in a securities class action against a drug company and its co-founders have shown that the defendants acted with the requisite scienter, they have failed to plead any actionable misstatements or omissions or loss causation in making their federal securities law claims, a federal judge in New York ruled March 29 in granting the defendants’ motion to dismiss (Michael Nguyen, et al. v. NewLink Genetics Corp., et al., No. 16-3545, S.D. N.Y., 2018 U.S. Dist. LEXIS 53561)....