Judge Upholds Denial Of Dismissal In Drug Maker’s Stock-Drop Suit

Mealey's (March 1, 2022, 1:46 PM EST) -- SAN FRANCISCO — A federal judge in California on Feb. 28 denied a motion for reconsideration of his denial of a motion to dismiss in a securities class action against a biopharmaceutical company and two of its senior executives who were alleged to have misrepresented the likelihood of U.S. Food and Drug Administration approval of the company’s hemophilia A gene therapy candidate, ruling that both Ninth Circuit U.S. Court of Appeals and U.S. Supreme Court precedent regarding the application of the safe harbor provision of the Private Securities Litigation Reform Act (PSLRA) support his ruling....