2nd Circuit Vacates Portion Of District Court’s Dismissal Of Medical Securities Suit

(September 12, 2023, 7:48 AM EDT) -- NEW YORK — The Second Circuit U.S. Court of Appeals in an unpublished order largely upheld the findings of a federal judge who dismissed a putative class complaint filed by investors who accused a pharmaceutical company of making materially false statements about its only medication on the market to bolster its stock price but vacated the dismissal of a small portion of the investors’ claims, finding that they adequately established scienter....