Panel Finds Drug Maker’s Statements Not To Be Materially Misleading

Mealey's (March 9, 2023, 1:46 PM EST) -- RICHMOND, Va. — A federal district court did not err in dismissing claims in a class action alleging that a clinical-stage biopharmaceutical company and certain of its current and former senior executives misrepresented clinical trial results for the company’s breast cancer treatment drug because a lead plaintiff failed to sufficiently plead any actionable misstatement or omission in pleading its federal securities law claims, a Fourth Circuit U.S. Court of Appeals panel affirmed....