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Recent insider trading case sparks concerns over leaked clinical trial results

  • Choate Hall & Stewart LLP
  • -
  • USA
  • -
  • December 20 2012

The Martoma insider trading case is the latest in, and largest of, a string of actions brought by the Securities and Exchange Commission related to the alleged misuse of confidential clinical trial information by life sciences companies and third parties with access to this information

Denial of leave to amend securities complaint affirmed on basis of futility

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • March 28 2008

The Court of Appeals for the Eighth Circuit affirmed a decision dismissing Plaintiff’s class action securities fraud complaint and denying Plaintiff leave to amend

Supreme Court grants cert to determine if plaintiff must prove materiality before certifying class in securities fraud class action

  • Porter Wright Morris & Arthur LLP
  • -
  • USA
  • -
  • June 12 2012

On Monday, June 11, 2012, the Supreme Court granted a Writ of Certiorari in Amgen, Inc. v. Connecticut Retirement Plans and Trust Funds, No. 11-1085 (U.S. Jun. 11, 2012) to decide whether, in a misrepresentation case under SEC Rule l0b-5, the court must require proof of materiality before certifying a plaintiff class based on the fraud-on-the-market theory (and whether the court must allow the defendants to present evidence rebutting the applicability of the fraud-on-the-market theory before certifying the class

FCPA anti-corruption developments: 2012 end of summer round-up

  • Morrison & Foerster LLP
  • -
  • China, France, Global, Haiti, India, Mexico, United Kingdom, USA
  • -
  • October 10 2012

While the temperatures rose this summer, the number of Foreign Corrupt Practices Act enforcement actions seems to have cooled off for the first time in the last five years

Third Circuit vacates dismissal of Celebrex securities fraud class action

  • Edwards Wildman Palmer LLP
  • -
  • USA
  • -
  • February 17 2009

The United States Court of Appeals for the Third Circuit (“Third Circuit”) recently vacated the dismissal of a securities fraud class action alleging that a pharmaceutical company, Pharmacia, Inc., made materially false statements about a clinical study of a popular anti-inflammatory medication

French doctor charged in criminal and civil insider trading cases

  • Porter Wright Morris & Arthur LLP
  • -
  • USA
  • -
  • November 3 2010

The criminalization of securities enforcement has increased in recent years

United States Supreme Court skeptical of requiring statistical significance as the test to determine materiality in securities fraud cases

  • Morrison & Foerster LLP
  • -
  • USA
  • -
  • January 11 2011

On Monday, January 10, 2011, the Supreme Court heard arguments in Matrixx Initiatives, Inc. v. Siracusano, No. 09-1156

Matrixx Securities fraud case could affect product liability law

  • Squire Sanders
  • -
  • USA
  • -
  • December 10 2010

Sometimes the most significant changes in the law come from unexpected places

Scienter inadequately pled under the standard set forth in the PSLRA

  • Katten Muchin Rosenman LLP
  • -
  • USA
  • -
  • October 8 2010

The U.S. District Court for the Southern District of Indiana dismissed plaintiff’s securities fraud action against a nationwide health care benefits provider, and its officers and directors, in which plaintiff alleged that defendants artificially inflated the price of the stock by making certain false and misleading statements

SEC brings fraud case against biopharmaceutical company, three other companies and four executives for misleading investors about sole product and insider trading

  • Porter Wright Morris & Arthur LLP
  • -
  • USA
  • -
  • August 2 2011

On Monday, August 1, 2011, the SEC filed suit against eight defendants for making false statements in public filings regarding the status of the human clinical trials for the drug SF-1019 by Argyll Biotechnologies LLC