Allergan Investors Lose Appeal Over Breast Implant Statements

Allergan PLC‘s public statements about its breast implants weren’t misleading “half-truths,” the Second Circuit said Tuesday in affirming a judgment against investors who represented a securities class.

A statement in a Securities and Exchange Commission filing, and two statements to the press, about breast implant safety studies were literally true and didn’t imply that Allergan’s textured devices had a closer link to a form of lymphoma than other manufacturers’, the appeals court said in an unsigned, unpublished opinion.

• The investors said in their suit, which was dismissed in December 2021, that the pharmaceutical company downplayed the strength of the ...