Cozzarelli v. Inspire Pharmaceuticals Inc.
Court of Appeals for the Fourth Circuit
1Opinion of the Court
Affirmed by published opinion. Judge WILKINSON wrote the opinion, in which Judge KEELEY and Judge HUDSON joined.
OPINION
WILKINSON, Circuit Judge:
This case involves claims that a pharmaceutical company and three of its directors violated federal securities laws. Plaintiffs’ primary allegation is that Inspire Pharmaceuticals, Inc. committed securities fraud by overstating the prospects for an experimental drug that the company was developing to treat dry eye disease. When we apply the careful scrutiny required by Congress in the Private Securities Litigation Reform Act of 1995 and by the Supreme…
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