Panel: Investors’ Amended Complaint Failed To Cure Pleading Deficiencies

Mealey's (June 21, 2022, 1:57 PM EDT) -- NEW YORK — A federal district court did not err in denying shareholders an opportunity to file a proposed second amended complaint (PSAC) in a securities class action against a pharmaceutical company and certain of its senior executives stemming from the defendants’ alleged failure to disclose safety issues discovered in a primary biliary cholangitis (PBC) treatment drug the company had developed because the amendments the shareholders sought to make in their PSAC were futile, a Second Circuit U.S. Court of Appeals panel ruled June 16 in affirming....

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