Stock Drop Suit Against Drug Maker Dismissed For Lack Of Actionable Misstatement

Mealey's (April 1, 2019, 2:22 PM EDT) -- NEW YORK — A federal judge in New York on March 28 ruled that the lead plaintiff in a securities class action lawsuit against a pharmaceutical company and two of its senior executives failed to sufficiently state a claim for relief in alleging that the defendants misrepresented the sales growth and effectiveness of the drug maker’s opioid dependence medication in violation of federal securities laws (Nancy Gagnon v. Alkermes PLC, et al., No. 17-9178, S.D. N.Y., 2019 U.S. Dist. LEXIS 52841)....