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Loss Causation

The following summaries are of recent published decisions of the California appellate courts, the Ninth Circuit, and the United States Supreme Court. The summaries are presented without regard to whether Severson & Werson represented a party in the case.

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Okla. Firefighters Pension & Ret. Sys. v. Nektar Therapeutics (In re Nektar Therapeutics Sec. Litig.), 34 F.4th 828 (U.S. 9th Cir. 2022)

This decision affirms dismissal of a 10b-5 securities complaint, holding that the complaint did not adequately allege falsity or loss causation.  The alleged omission concerned the results of a stage 1 drug trial for a cancer treatment drug.  Nektar reported that the drug increased cancer-fighting T cells by 30 times in the stage one test group of 10 patients.  Plaintiffs… Read More