Biotech Co. Wants Investors' Stock-Drop Suit Tossed

Law360, New York (November 13, 2017, 9:02 PM EST) -- ImmunoCellular Therapeutics Ltd. urged a California federal court on Friday to toss a proposed class action accusing the biotech company of an illegal stock promotion scheme around one of its brain cancer drug candidates, arguing that the alleged scheme’s disclosure came too late to have caused the losses claimed by the investors behind the suit.

ImmunoCellular told the court that these investors have admitted the first disclosure “even hinting at” the alleged promotional activity came in the form of the company’s March 2016 announcement of its...
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