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Rise In Securities Class Action Filings In Life Sciences Sector

Last year proved to be another record period for securities class actions, with a 13% increase in cases filed compared with 2018, and a 24% increase in claims brought against life sciences companies compared with 2018, according to a report by Cornerstone Research: Securities Class Action Filings: 2019 Year In Review.

Chess Kings facing each other as a business concept - merger & partnership, or showdown, corporate takeover, strategy, competition, opposition, confrontation, politics, leadership, challenge, survival

There were more than three dozen court decisions involving life sciences companies in 2019, nine of which related to statements about clinical trial results. Courts dismissed six of these cases at the pleading stage based on the Private Securities Litigation Reform Act of 1995 (PSLRA), while the other three are ongoing.

The stakes associated with defending against litigation past the dismissal stage are high, as evidenced by Hsu v. Puma Biotechnology,...

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