Mylan Investors Get Swift Rebuff in EpiPen, Drug Pricing Appeal

Mylan N.V. investors failed to adequately support class claims of securities fraud tied to EpiPen rebates and allegedly collusive drug pricing practices, the Second Circuit affirmed Monday, just three weeks after hearing argument in the case.

The lower court found that the investors lacked proof of deceptive intent by the pharmaceutical company and its executives in statements about the EpiPen’s rebate classification, the appeals court said in an unsigned, unpublished decision. The panel rejected the investors’ argument that the judge’s finding on intent didn’t apply to those statements.

And the investors failed to connect their stock losses to disclosures about ...