Lead Plaintiffs Lack Standing, But Jurisdictional Discovery Permitted

Mealey's (July 30, 2018, 1:56 PM EDT) -- NEWARK, N.J. — A federal judge in New Jersey on July 27 ruled that certain lead plaintiffs in a securities class action lawsuit against a pharmaceutical company, certain of its senior executives and underwriters of its initial public offering (IPO) failed to show that they have standing to assert their claims against the defendants but denied the defendants’ motion to dismiss the claims against them to allow the challenged plaintiffs to conduct jurisdictional discovery on the issue (Robin J. Dartell, et al. v. Tibet Pharmaceuticals Inc., et al., No. 14-3620, D. N.J., 2018 U.S. Dist. LEXIS 125643)....