Nektar Dodges Stock-Drop Suit Over Poor Study Results

Law360 (July 14, 2020, 3:07 PM EDT) -- A California federal judge has dismissed a stock-drop proposed class action against biopharmaceutical research company Nektar, saying investors hadn't provided specific details in their allegations that the company misled them about cancer drug trials.

U.S. District Judge Haywood S. Gilliam Jr. shot down the claims of falsity and scienter Monday and gave the investors 28 days to file an amended complaint.

"Although plaintiffs argue in their opposition 'that defendants committed fraud by publicly reporting results that they knew or should have known were either so incomplete or so statistically flawed as to lack clinical significance,' they have failed to explain why...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Beta
Ask a question!