Defendants: Investor Fails To Plead Elements Of Securities Claims

Mealey's (October 25, 2019, 2:17 PM EDT) -- TRENTON, N.J. — The lead plaintiff in a securities class action lawsuit against a former biotech company, several of its current and former officers and directors and others has failed to sufficiently state a claim for relief in arguing that the defendants engaged in a pump-and-dump scheme in violation of federal securities laws because the lead plaintiff’s reliance on “‘47 exhibits’ falling outside the four corners” of his amended complaint highlights his “multiple pleading deficiencies,” several of the defendants argue in an Oct. 22 reply brief filed in New Jersey federal court in support of their motions to dismiss (Creighton Takata v. Riot Blockchain Inc., et al., No. 18-2293, D. N.J.)....