Alere Escapes Most, But Not All, Of Securities Class Action

Law360, New York (August 23, 2017, 5:11 PM EDT) -- Medical diagnostic equipment maker Alere Inc. won the dismissal of most of a securities fraud class action on Wednesday, with a Massachusetts federal judge concluding that there was little to support the idea that Alere’s bosses knew about most of its alleged wrongdoing.

Alere’s stock price took a beating last year as scandals emerged and its proposed acquisition by Abbott Laboratories was delayed, but U.S. District Judge Patti B. Saris said investors who sued the company and three executives alleging fraud had failed to cite facts...
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