Drug Maker Argues That Court Improperly Certified Stock-Drop Class

Mealey's (December 6, 2018, 2:28 PM EST) -- PHILADELPHIA — A Third Circuit U.S. Court of Appeals panel should reverse a lower court’s ruling certifying a class of investors in a securities class action lawsuit because the lower court improperly dismissed a pharmaceutical company’s expert testimony showing that there was no price impact on alleged misrepresentations and omissions made by the company and certain of its current and former senior executives, the defendants argue in a Dec. 3 appellant brief filed in the Third Circuit U.S. Court of Appeals (Aeterna Zentaris Inc., et al. v. Gregory Vizirgianakis, et al., No. 18-2474, 3rd Cir.)....