1st Circ. Revives Investors' Feraheme Risks Class Action
By Daniel Wilson
Law360, New York (February 5, 2013, 3:25 PM EST) -- The First Circuit on Monday revived a putative class action accusing AMAG Pharmaceuticals Inc. and its bank underwriters of misleading investors about the risks associated with iron deficiency treatment Feraheme, ruling the investors had made a reasonable claim that AMAG had failed to disclose relevant information on those risks.
According to a three-judge panel, the investors — led by Silverstrand Investments LLC, Safron Capital Corp. and Briarwood Investments Inc. — had made a plausible claim that AMAG had wrongly failed to tell investors about 23 serious...