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Securities Fraud Pharmaceutical Industry Securities and Exchange Commission (SEC)

Snell & Wilmer

SEC v. Panuwat: The SEC’s “Shadow Trading” Paradigm

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On April 5, 2024, the Securities and Exchange Commission (“SEC”) obtained its first favorable insider trading verdict based on “shadow trading.” The SEC filed suit against Matthew Panuwat, claiming that he accessed highly...more

A&O Shearman

Northern District Of California Dismisses With Prejudice Putative Class Action Against Pharmaceutical Company

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On May 7, 2024, Judge Beth Labson Freeman of the United States District Court for the Northern District of California dismissed with prejudice a putative shareholders’ class action against a pharmaceutical company (“Company”)...more

A&O Shearman

Massachusetts District Court Grants Motion To Dismiss Securities Fraud Claims Against Biopharmaceutical Company, Finding...

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On March 29, 2023, Judge William G. Young of the United States District Court for the District of Massachusetts granted a motion to dismiss a putative securities class action alleging a pharmaceutical company (the “Company”),...more

ArentFox Schiff

Investigations Newsletter: DOJ Files FCA Complaint Against Major Pharmacy Retailer Based on Alleged Violations of Controlled...

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DOJ Files FCA Complaint Against Major Pharmacy Retailer Based on Alleged Violations of Controlled Substances Act - On March 13, 2023, the Department of Justice (DOJ) announced that it filed a complaint in intervention...more

A&O Shearman

Eastern District Of Pennsylvania Declines To Dismiss Putative Class Action Against Pharmaceutical Company

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On March 25, 2022, the United States District Court for the Eastern District of Pennsylvania largely denied a motion to dismiss a putative class action asserting claims under the Securities Exchange Act of 1934 against a...more

BCLP

Troubles Mount for Embattled Eastman Kodak

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A proposed class action has been filed against Eastman Kodak alleging securities fraud in connection with certain events surrounding the government’s possible $765 million pharmaceutical development loan to Kodak. The...more

Seyfarth Shaw LLP

Event-Driven Securities Litigation in the Age of COVID-19

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Seyfarth Synopsis: The COVID-19 pandemic has already spurred several private securities class action lawsuits and Securities and Exchange Commission (“SEC”) enforcement actions. Companies that deal with COVID-19 on a daily...more

Wilson Sonsini Goodrich & Rosati

2019 Life Sciences Securities Litigation Roundup

2019 Filings - In 2019, the number of securities class action cases filed against life sciences companies reached record levels. According to Cornerstone Research, lawsuits against pharmaceutical companies increased by 40...more

Robins Kaplan LLP

Financial Daily Dose 11.19.2019 | Top Story: T-Mobile Chief John Legere to Leave Company in April

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T-Mobile chief and fan-of-magenta John Legere has announced that he’ll be stepping down in April at the end of his current contract. Legere will be succeeded by Mike Sievert, the carrier’s current president and COO....more

Fenwick & West LLP

Top SCOTUS Cases that Matter for Tech, Life Sciences and Games Industries – 2018 Term Preview

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As the U.S. Supreme Court kicks off its 2018 term this week, it prepares to take up a series of firsts, including questions about the America Invents Act, securities fraud and privacy-related class action litigation. At the...more

Knobbe Martens

Theranos Charges Provide Perspective for Medical Device Companies, Biotechnology Companies, and Investors

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On March 14, 2018, the Securities and Exchange Commission (SEC) announced it filed charges against the founder and CEO of Theranos Inc., Elizabeth Holmes, and its former president, Ramesh Balwani....more

Robins Kaplan LLP

Your Daily Dose of Financial News

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There’s falling from grace, and then there’s Elizabeth Holmes. Once compared glowingly to Steve Jobs, Holmes’ well-documented Theranos ills (including exaggerated and faked blood-test results) have landed her with SEC...more

Thomas Fox - Compliance Evangelist

Tribute to Hawking: Black Holes Everywhere

Holmes was one of the most famous women to come out of Silicon Valley. She founded Theranos, hyped the fraudulent blood testing scam and became for a short time a billionaire. Now all of that is gone, gone, gone. ...more

Robins Kaplan LLP

Your Daily Dose of Financial News

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The Peltz/P&G drama continues, with the company suggesting that Trian has lost its bid for a Board seat and the fund arguing that it disagrees with the company’s counting of the ballots....more

Seyfarth Shaw LLP

A New and Important Development in Insider Trading Law

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In a case likely to have ongoing ramifications, the Second Circuit recently upheld the conviction of Matthew Martoma, a former portfolio manager for Stephen Cohen’s SAC Capital. In so doing, the court clarified, at least for...more

Fenwick & West Life Sciences Group

Martin Shkreli Convicted on Three of Eight Counts of Securities Fraud

On Friday, August 4, 2017, a federal court jury in Brooklyn, New York, found Martin Shkreli, former CEO of biopharmaceutical company Retrophin, guilty on three of eight counts of securities fraud. The verdict followed five...more

Pierce Atwood LLP

First Circuit Affirms Tough Standard for Alleging Securities Fraud; Revives One Claim Against Local Drug Maker

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On November 28, 2016, the First Circuit upheld the dismissal of all but one of the class action securities fraud claims against Cambridge, MA drug company, ARIAD Pharmaceuticals, Inc., reaffirming the exacting pleading...more

Arnall Golden Gregory LLP

AGG Food & Drug Newsletter - April 2016

Arnall Golden Gregory LLP's (AGG) Food and Drug Newsletter is a monthly update of legal and regulatory issues that affect the FDA-regulated community, including regular updates on legislative initiatives from AGG’s...more

Smith Anderson

If at First You Don't Succeed: Fourth Circuit Revives Securities Fraud Claims

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The Fourth Circuit recently revived securities fraud claims against a pharmaceutical company, holding that the allegations that the company acted with wrongful intent were sufficient to proceed even under the heightened...more

Katten Muchin Rosenman LLP

Corporate & Financial Weekly Digest - Volume X, Issue 12

In this issue: - SEC Adopts Final Rules for Regulation A+ Offerings - FINRA Issues Notice on New Rules and Amendments Relating to Transaction-Based Compensation, Membership and Sanctions - FINRA Issues...more

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