Summary Judgment Granted In Stock-Drop Suit On Negative Loss Causation Grounds

Mealey's (July 14, 2021, 2:15 PM EDT) -- NEW YORK — A federal judge in New York on July 9 granted a motion for summary judgment filed by a pharmaceutical company and certain of its current and former senior executives in a securities fraud lawsuit stemming from the defendants’ alleged failure to disclose the anticipated resignation of the company’s chief financial officer in the wake of a public offering of stock, ruling that the defendants have sufficiently pleaded negative loss causation....

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