Aquestive Therapeutics Inc.'s statements about the progress of FDA approval for its epileptic seizure drug Libervant, as alleged in an investor lawsuit, didn’t amount to securities fraud, a federal court ruled.
The company and its leaders presented honestly-believed opinions, statements accompanied by warnings, and forward-looking or otherwise non-actionable remarks, Judge Zahid N. Quraishi said Tuesday for the US District Court for the District of New Jersey. And the shareholders didn’t show the necessary level of intent to deceive, he said.
The investors will have another chance to plead their claims.
Deanna Lewakowski and other investors alleged on behalf of a ...