United States First Circuit
New Jersey Carpenters Pension & Annuity Funds v. Biogen IDEC, Inc., 07-2626
In a federal securities class action matter alleging defendant drug company and senior executives intentionally misrepresented the safety of and the market for new drug for multiple sclerosis by omission and commission, dismissal of complaint is affirmed where the complaint failed to meet adequately the pleading requirements for scienter established in the Private Securities Litigation Reform Act of 1995 ("PSLRA").
Appellate Information
- Decided 08/07/2008
- Published 08/07/2008
Judges
- LYNCH, Chief Judge., Before LYNCH, Chief Judge, TORRUELLA, Circuit Judge, and STAFFORD, District Judge.
Court
- United States First Circuit
Counsel
- For Appellant:
- Vincent R. Cappucci with whom Stephen D. Oestreich, Robert N. Cappucci, Shannon L. Hopkins, Entwistle & Cappucci LLP, Sanford P. Dumain, Richard H. Weiss, Milberg Weiss LLP, Nancy Freeman Gans, and Moulton & Gans, PC were on brief for appellants., James R. Carroll with whom Matthew J. Matule, Michael S. Hines, and Skadden, Arps, Slate, Meagher & Flom LLP were on brief for Biogen Idec Inc., William Rastetter, James Mullen, Burt Adelman, Peter N. Kellogg, and William Rohn., Mark A. Berthiaume with whom Timothy E. Maguire and Greenberg Traurig LLP were on brief for Thomas Bucknum.