Panel Affirms Dismissal Of Securities Class Action For Failure To State 10(b) Claim

Mealey's (September 19, 2018, 7:23 AM EDT) -- SAN FRANCISCO — A Ninth Circuit U.S. Court of Appeals panel on Sept. 17 ruled that a federal district court judge did not err in dismissing a shareholder class action against a drug company and certain of its former executive officers for failure to plead material misrepresentations or omissions because the information allegedly misrepresented was publicly available prior to the statements being made and was “already part of the total mix of information available to investors” (Wahid Tadros v. Celladon Corp., et al., No. 16-56904, 9th Cir., 2018 U.S. App. LEXIS 26260)....