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Lubin Olson Scores Dismissal of Securities Lawsuit

Lubin Olson litigator Theodore A. Griffinger, Jr. obtained a dismissal of a securities fraud lawsuit against the former officers and directors of a defunct biotechnology firm.  In a 36-page published opinion, Judge Phyllis Hamilton of the U.S. District Court for the Northern District of California dismissed with prejudice plaintiff’s claims for relief under Section 10(b) of the Securities Exchange Act of 1934 on defendants’ initial motion.  The Court granted leave to amend with respect to plaintiff’s remaining claims, but warned that “[a]n amended complaint that does not provide a coherent explanation of the facts and a plausible statement of the claims” would likewise be dismissed with prejudice.

A copy of the Court's March 15, 2013 published opinion is featured in the attachment below.

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