Judge Dismisses Securities Claims As Lacking In Drug Company’s Stock-Drop Suit

Mealey's (March 11, 2021, 1:57 PM EST) -- SAN FRANCISCO — A federal judge in California on March 10 granted a motion to dismiss in a securities class action lawsuit alleging that a drug maker, certain of its senior executives and directors and underwriters of a secondary public offering misrepresented the expected sales and usage of the company’s coagulant drug in violation of federal securities laws because the shareholders failed to sufficiently show how the defendants’ alleged misstatements support the securities fraud claims....