Southern District Of New York Dismisses Putative Class Action Against Pharmaceutical Company For Failure To Allege Material Misstatement Or Omission
By EsqSocial Corporation 21/10/20
On October 14, 2020, Judge Alison J. Nathan of the United States District Court for the Southern District of New York dismissed with prejudice a putative class action asserting claims under the Securities Exchange Act of 1934 against a pharmaceutical company, certain of its executives, and investors that participated in a go-private merger with the company. Altimeo Asset Management v. WuXi PharmaTech (Cayman) Inc., No. 19-cv-1654 (AJN), slip op. (S.D.N.Y. Oct. 14, 2020). Plaintiff alleged that...
By: Shearman & Sterling LLP