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Mealeys

Mealey's Securities/D&O Liability - 'Scattershot Approach' To Pleading Securities Claims Against Drug Maker Rejected

NEWARK, N.J. - A federal judge in New Jersey on Nov. 12 ruled that lead plaintiffs in a securities class action lawsuit brought against a biopharmaceutical company that develops hematology and oncology therapeutics and certain of its current and former executive officers regarding their marketing and sale of the company's fentanyl-based cancer treatment drug have failed to plead any actionable misrepresentations in making their federal securities law claims (In re Galena Biopharma Inc. Securities Litigation, No. 17-929, D. N.J., 2019 U.S. Dist. LEXIS 196297).
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