Investor Suit Over Alleged Parkinson’s Disease Drug Misstatements Dismissed

Mealey's (January 5, 2022, 2:12 PM EST) -- SAN DIEGO — Ruling that the lead plaintiff in a securities class action against a drug company and several of its current and former senior executives has three times failed to sufficiently plead an actionable misstatement or omission in alleging that the defendants failed to disclose the extent of severe adverse results in patients treated with the company’s Parkinson’s disease psychosis (PD psychosis) treatment drug or its alleged involvement in an illegal kickback scheme, a federal judge in California on Jan. 3 denied the lead plaintiff a fourth attempt to do so....