Judge Trims Claims In Securities Class Action Against Drug Maker, Others

Mealey's (August 4, 2017, 2:33 PM EDT) -- PHOENIX — A lead plaintiff in a securities class action lawsuit against a commercial-stage specialty pharmaceutical company and certain of its current and former executive officers has failed to show that a majority of the defendants’ alleged misrepresentations concealing their involvement in an illegal kickback scheme with doctors were actionable and that seven of 10 alleged corrective disclosures had any causal connection to the alleged fraud, a federal judge in Arizona ruled Aug. 1 in granting in part and denying in part the defendants’ motion to dismiss (Richard Di Donato, et al. v. Insys Therapeutics Inc., et al., No.16-0302, D. Ariz., 2017 U.S. Dist. LEXIS 120983)....