On September 6th, the United States Court of Appeals for the Ninth Circuit affirmed the dismissal of plaintiff's securities fraud claims for failure to adequately allege falsity and scienter. Merely alleging that defendants should have used a different statistical methodology in their drug trials is not sufficient to allege falsity. And alleging that some investors might have wanted more extensive information does not make the alleged original statements false or misleading. Finally, plaintiff points to no allegations that defendants believed that they made false or misleading statements. Inter-Local Pension Fund GCC/IBT v. Rigel Pharmaceuticals, Inc.