Zenoff v. Sorrento Therapeutics, Inc. (9th Cir. 2024) 97 F.4th 634
In May 2020, defendant announced that it had developed a potential cure for COVID-19 which had shown promising results in in vitro tests. Defendant's stock soared for about a week after the announcement, after which less rosy reports were issued and the stock fell back down again. This decision affirms dismissal of a 10b-5 claim against defendant. Its announcement did… Read More