Panel:  Investor’s Scienter Allegations Missed The Mark In Stock-Drop Suit

Mealey's (January 12, 2022, 2:38 PM EST) -- NEW YORK — A federal district court did not err in dismissing lead plaintiffs’ second amended complaint against a generic drug maker and certain of its current and former senior executives alleging that the defendants failed to disclose supply chain issues with its primary supplier in violation of federal securities laws because the lead plaintiff failed to sufficiently plead scienter in stating his claims, a Second Circuit U.S. Court of Appeals panel ruled Jan. 11, affirming....