Investors’ Securities Law Claims Trimmed For Failure To Plead Scienter

Mealey's (June 10, 2021, 2:16 PM EDT) -- SAN FRANCISCO — A federal judge in California on June 7 partially granted a motion to dismiss filed by defendants in a securities fraud lawsuit against a clinical-stage biopharmaceutical company and two of its senior executives stemming from alleged misrepresentations the defendants made regarding clinical trial results of the company’s pain treatment drug, ruling that investors failed to sufficiently plead scienter as to one of the individual defendants or that the core operations doctrine applies to the investors’ federal securities law claims....