Claims Trimmed In Stock Drop Suit Against Obesity Drug Maker

Mealey's (September 25, 2019, 1:27 PM EDT) -- SAN DIEGO — A federal judge in California on Sept. 23 ruled that the lead plaintiff in a securities class action lawsuit has sufficiently pleaded scienter and loss causation for several, but not all, of his federal securities law claims against a pharmaceutical company and certain of its senior executives based on alleged misstatements the defendants made regarding the success of a clinical study the company conducted for its obesity treatment drug (Karim Khoja v. Orexigen Therapeutics Inc., et al., No. 15-540, S.D. Calif., 2019 U.S. Dist. LEXIS 162366)....