A venture capital fund with a seat on the Vera Therapeutics Inc. board failed on Monday to shake a suit alleging the fund’s profits from trading within a short period belong to the company.
Investors can sue Sofinnova Venture Partners X LP and related entities as directors on the theory that they deputized Maha Katabi to represent them on the biotechnology company’s board of directors, Judge Edgardo Ramos said for the US District Court for the Southern District of New York. The derivative complaint adequately alleges facts satisfying five factors used by courts to assess whether deputization has occurred, Ramos ...
Learn more about Bloomberg Law or Log In to keep reading:
Learn About Bloomberg Law
AI-powered legal analytics, workflow tools and premium legal & business news.
Already a subscriber?
Log in to keep reading or access research tools.