Syneos Health Inc. won dismissal of shareholder lawsuit claiming the company withheld key information leading up to a 2017 merger, after the U.S. District Court for the Eastern District of North Carolina decided there were essential allegations missing from the complaint.
Judge Louise W. Flanagan rejected a magistrate judge’s recommendation to deny Syneos’s motion to dismiss Monday, deciding that the would-be class action failed to allege that the defendants acted with the necessary intent.
The shareholders alleged that the contract research organization and its executives must have known that its merger with inVentiv Health Inc. wouldn’t prove as profitable as ...
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