Denial Of Dismissal Bid In Pharmaceutical Company's Stock-Drop Suit Upheld

Mealey's (July 31, 2020, 8:09 AM EDT) -- NEW YORK — A biopharmaceutical company and three of its senior officers have failed to sufficiently show that a federal judge in New York erred in denying their motion to dismiss claims in a securities class action alleging that they misrepresented the likelihood of U.S. Food and Drug Administration approval of the company's vascular Ehlers-Danlos syndrome (vEDS) treatment drug, the judge ruled July 21 in denying the defendants' motion for reconsideration (Nicholas Skiadas v. Acer Therapeutics Inc., et al., No. 19-6137, S.D. N.Y., 2020 U.S. Dist. LEXIS 129104)....

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