Legal Opinion
Local No. 8 IBEW Retirement Plan & Trust v. Vertex Pharmaceuticals, Inc.
Court of Appeals for the First Circuit
Decided October 3, 2016No. 15-2250PPublishedCited by 30 opinions
1Opinion of the Court
KAYATTA, Circuit Judge.
During the course of clinical trials for an experimental drug combination intended to treat a fatal lung disease, Vertex Pharmaceuticals, Inc. (“Vertex”) announced interim results that overstated the improvement in lung function exhibited in a group of patients receiving the combination treatment. Following this announcement, Vertex’s stock price rose from $37.41 per share to close at $64.85 three weeks later. It then lost some of its gain, dropping to $57.80, after Vertex corrected the initial release’s overstatement. Acting on behalf of all those who acquired Vertex…
2Cases cited22 opinions
- Ashcroft v. IqbalSupreme Court of the United States · 2009
- Tellabs, Inc. v. Makor Issues & Rights, Ltd.Supreme Court of the United States · 2007
- Ernst & Ernst v. HochfelderSupreme Court of the United States · 1976
- In Re Oracle Corp. Securities LitigationCourt of Appeals for the Ninth Circuit · 2010
- Greebel v. FTP Software, Inc.Court of Appeals for the First Circuit · 1999
17 more not listed; retrieve them via the Exa API.
3Cited by30 opinions
- Bradley v. ARIAD Pharmaceuticals, Inc.Court of Appeals for the First Circuit · 2016
- Brennan v. Zafgen, Inc.Court of Appeals for the First Circuit · 2017
- Yan v. ReWalk Robotics Ltd.Court of Appeals for the First Circuit · 2020
- Constr. Industry and Laborers Joint Pension Trust v. Carbonite, Inc.Court of Appeals for the First Circuit · 2021
- Courthouse News Service v. QuinlanCourt of Appeals for the First Circuit · 2022
25 more not listed; retrieve them via the Exa API.