(June 17, 2016, 12:48 PM EDT) -- BOSTON — A federal district court’s dismissal of a securities class action lawsuit was proper because a shareholder failed to properly plead the elements of its federal securities law claim, defendants argue in an appellee brief filed recently in the First Circuit U.S. Court of Appeals (Local No. 8 IBEW Retirement Plan v. Vertex Pharmaceuticals Inc., et al., No. 15-2250, 1st Cir.).

(Appellee brief available. Document #57-160620-512B.)

Shareholder Local No. 8 IBEW Retirement Plan filed a securities class action complaint in the U.S. District Court for...