Judge: Lead Plaintiff Failed To Plead Scienter In Securities Class Action Suit

Judge: Lead Plaintiff Failed To Plead Scienter In Securities Class Action Suit

SAN FRANCISCO - A lead plaintiff in a securities class action against a drug maker and certain of its senior officers has failed to plead falsity and scienter in making its federal securities law claims against the defendants, a federal judge in California ruled in an opinion made available on March 23 (David Applestein, et al. v. Medivation Inc., et al., No. 10-0998, N.D. Calif.; 2012 U.S. Dist. LEXIS 39360).

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