Improper Scienter Allegations Lead To Dismissal Of Stock-Drop Suit Claims

Mealey's (June 2, 2020, 1:39 PM EDT) -- HOUSTON — A federal judge in Texas on May 29 ruled that an investor group failed to plead scienter in alleging that a biopharmaceutical company and certain of its current and former executive officers violated federal securities laws by failing to disclose adverse issues discovered with the company’s cancer treatment drug during clinical trials, as well as the risks associated with the drug (Nipun Kakkar v. Bellicum Pharmaceuticals Inc., et al., No. 18-338, S.D. Texas, 2020 U.S. Dist. LEXIS 94918)....