Failure To Plead Scienter, Loss Causation Leads To Dismissal Of Securities Claims

Mealey's (September 11, 2018, 1:55 PM EDT) -- SAN FRANCISCO — A federal judge in California on Sept. 7 ruled that the lead plaintiff in a securities class action lawsuit against a generic drug company and certain of its current and former executive officers failed to properly plead scienter and loss causation in arguing that the defendants concealed their involvement in a generic drug price-fixing scheme in violation of federal securities laws (Greg Fleming v. Impax Laboratories Inc., et al., No. 16-6557, N.D. Calif.)....