Abrams v. Life Medical Technologies, Inc.

OPINION

TOMAS P. GRIESA, District Judge.

This case arises from the failure of Life Medical Technologies, Inc., a medical devices company. Plaintiffs, a large group of investors who lost money in Life Medical shares, allege that defendants secured plaintiffs’ investments through fraud and badly mismanaged the company. They bring federal securities fraud claims, as well as claims for breach of fiduciary duty, common law fraud, negligent misrepresentation, negligence, and unjust enrichment. Defendants, Life Medical and affiliated persons, move to dismiss pursuant to Federal Rules of Civil…