Lack Of Scienter Pleading Leads Panel To Affirm Dismissal Of Stock-Drop Claims

Mealey's (August 8, 2022, 1:03 PM EDT) -- BOSTON — A First Circuit U.S. Court of Appeals panel on Aug. 5 affirmed dismissal of shareholder claims that a biopharmaceutical company and certain of its senior executives misrepresented the safety and efficacy of its cancer treatment drug in an effort to boost stock prices, ruling that the shareholder failed to sufficiently plead any actionable misstatements or omissions in making his federal securities law claims....