Trial Court Dismisses Securities Fraud Complaint for Insufficient "Evidence" The Case of Nektar Therapeutics, Inc. | Arnall Golden Gregory LLP
Introduction Pleading requirements in federal courts, particularly in securities class action cases, have become increasingly difficult, if not impossible, to satisfy. On December 30, 2020, a U.S. district court in California granted the motion of the biopharmaceutical company, Nektar Therapeutics, Inc. (“Nektar” or “Company”) 1 and its named officers (collectively, “Defendants”) to dismiss Plaintiffs’ second-amended securities fraud complaint (“Complaint”) by means of an opinion that stretched, we believe, well beyond the applicable pleading rules and statutes. Being the se...
Source: jdsupra.com