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Mealeys

Mealey's Securities/D&O Liability - Tender Offer Statements Not Materially Misleading, Defendants Argue

SAN FRANCISCO - A federal district court did not err in dismissing federal securities law claims in a shareholder class action lawsuit alleging that a drug maker and its board of directors issued misrepresentations in a recommendation statement for a proposed merger deal lead plaintiffs failed to plead any material misstatements or omissions, scienter or loss causation in making those claims, the defendants argue in a Nov. 22 appellee brief filed in the Ninth Circuit U.S. Court of Appeals (In re: Ocera Therapeutics Inc. Securities Litigation, No. 18-17345, 9th Cir.).
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