Confidential Ongoing Pharmaceutical 10b-5 Matters
Analysis Group was retained by Cadwalader, Wickersham & Taft LLP and DLA Piper on behalf of a pharmaceutical manufacturer and its subsidiary in connection with two related securities fraud class actions. The suits, which are ongoing, stemmed from the company's statements about two different clinical outcomes of the same drug. The first suit alleges that our client concealed pertinent clinical evidence about the cardiovascular safety of the drug, which, when made public, led to a drop in the company's stock price. The second suit involves alleged misrepresentation of results from a clinical trial that was designed to assess specific safety aspects of a drug. The plaintiffs allege that our client made materially false and misleading statements about the drug's relative safety, resulting in an artificially inflated stock price. Our team, including Vice President Nikita Piankov, is supporting several experts in analyzing clinical trial data and reviewing the merits of plaintiffs' argument about the clinical trial. The experts include our affiliate, Harvard School of Public Health Professor Lee-Jen Wei.