Failure To Plead With Particularity Leads To Dismissal Of Securities Claims

Mealey's (July 8, 2019, 2:19 PM EDT) -- NEWARK, N.J. — A lead plaintiff in a securities class action lawsuit against a developer of therapeutic products and three of its senior executives has failed to sufficiently show that it may rely on confidential witness statements in making its federal securities law claims because the confidential witnesses’ allegations fail to identify “the who, what, when, where, and how of some of the sources of his information,” a federal judge in New Jersey ruled July 2 (Randy Smith v. Antares Pharma Inc., et al., No. 17-8945, D. N.J., 2019 U.S. Dist. LEXIS 110688)....