Aveo Pharma Escapes Investors' Cancer Drug Stock-Drop Suit

Law360 (July 27, 2020, 5:06 PM EDT) -- A Massachusetts federal judge has tossed a securities class action alleging biopharmaceutical company Aveo and its executives misled investors about possible federal approval of a cancer drug, saying the company "explicitly warned the public" about the uncertainty of a clinical trial.

U.S. District Court Judge Allison D. Burroughs said Friday that Aveo's repeated warnings about its clinical trial in press releases, quarterly reports and filings with the U.S. Securities and Exchange Commission protected it from the investors' claims of securities fraud.

"It is difficult to determine how defendants could have more explicitly warned the public about the uncertainty of its timing estimates...

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!


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?
Ask a question!