Investor Claims Against Drug Maker Over COVID-19 Therapy Deemed Insufficient

Mealey's (November 23, 2021, 8:39 AM EST) -- SAN DIEGO — A federal judge in California on Nov. 18 ruled that the lead plaintiff in a securities class action lawsuit against a clinical-stage biopharmaceutical company and certain of its senior executives has failed to sufficiently plead that the defendants’ alleged misstatements regarding the company’s development of a “cure” for COVID-19 were materially misleading or made with the required state of mind as required in pleading their federal securities law claims....