9th Circuit: Investor Does Not Allege Scienter In COVID-19 ‘Cure’ Suit

(March 26, 2024, 1:40 PM EDT) -- PASADENA, Calif. — A panel of judges in the Ninth Circuit U.S. Court of Appeals on March 25 upheld the dismissal of putative class complaint in which an investor claimed that a pharmaceutical company and certain of its executives misled investors by claiming that a COVID-19 treatment was a “cure,” with the panel finding that the investor did not adequately allege a strong inference of scienter....