On June 10, 2020, the Ninth Circuit issued a decision affirming the dismissal of a securities case filed against a life sciences company for supposedly misrepresenting the likelihood that the FDA would approve one of its medical devices.  The decision confirms that courts must closely scrutinize complaints in assessing whether the plaintiffs have created a strong inference that the defendants acted intentionally or recklessly.  The decision also rejects efforts to use confidential witnesses whose statements rely on alarming adjectives rather than concrete facts.


This communication, which we believe may be of interest to our clients and friends of the firm, is for general information only. It is not a full analysis of the matters presented and should not be relied upon as legal advice. This may be considered attorney advertising in some jurisdictions. Please refer to the firm's privacy notice for further details.