United States First Circuit

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Brennan v. Zafgen, Inc., 16-2057

In a securities fraud class action suit brought by investors against the company and its CEO, pursuant to Sections 10(b) and 20(a) of the Securities Exchange Act of 1934, 15 U.S.C. sections 78j(b) and 78(t)(a), and Securities and Exchange Commission Rule 10b-5, 17 C.F.R. section 240.10b-5, alleging misleading statements made by the defendants regarding the company's anti-obesity drug Beloranib, the district court's dismissal of the complaint is affirmed where plaintiffs' complaint did not contain facts giving rise to a 'cogent and compelling' inference of scienter as required under the Private Securities Litigation Reform Act of 1995 (PSLRA).

Appellate Information

  • Argued
  • Submitted
  • Decided
  • Published 2017/04/07




  • United States First Circuit


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