Evolus Defeats Investor Suit Over Botox Trade Secret Dispute

Evolus Inc. investors failed to adequately allege the anti-wrinkle injection maker made misleading statements about a trade secret misappropriation dispute with Allergan PLC, a federal court ruled Thursday.

The investors also can’t proceed with securities fraud claims over Evolus statements about its product Jeuveau, including that it was “proprietary,” Judge Paul G. Gardephe said for the US District Court for the Southern District of New York.

Evolus acquired a license to develop Jeuveau from South Korean drugmaker Daewoong Pharmaceuticals, according to the investors. Allergan and its partner Medytox allegedly complained to the US International Trade Commission that Daewoong took ...