4th Circ. Revives Chelsea Therapeutics Class Action

By Ben Conarck (March 16, 2015, 7:19 PM EDT) -- The Fourth Circuit dismantled a North Carolina federal court's ruling that dismissed allegations of misleading investors against Chelsea Therapeutics International Ltd. in a split decision on Monday, saying that the court not only inappropriately relied on regulatory filings to reach its decision, but that it also misinterpreted those documents.

The circuit court's decision hinged in part on the lower court's characterization of U.S. Securities and Exchange filings showing company officers' stock purchases and holdings, which the higher court said provided an incomplete picture of whether corporate officers were selling off stocks in anticipation of a dip in share prices, according to...

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?
Ask a question!