‘Scattershot Approach’ To Pleading Securities Claims Against Drug Maker Rejected

Mealey's (November 14, 2019, 2:16 PM EST) -- NEWARK, N.J. — A federal judge in New Jersey on Nov. 12 ruled that lead plaintiffs in a securities class action lawsuit brought against a biopharmaceutical company that develops hematology and oncology therapeutics and certain of its current and former executive officers regarding their marketing and sale of the company’s fentanyl-based cancer treatment drug have failed to plead any actionable misrepresentations in making their federal securities law claims (In re Galena Biopharma Inc. Securities Litigation, No. 17-929, D. N.J., 2019 U.S. Dist. LEXIS 196297)....