Boston-based Vertex Pharmaceuticals Inc. is off the hook on shareholder claims it overstated the results of a clinical trial for a therapy to combat cystic fibrosis (Local No. 8 IBEW Ret. Plan & Trust v. Vertex Pharm. Inc., 2016 BL 329445, 1st Cir., 15-2250, 10/3/16).
The investors didn’t allege that the company and its top officials acted with scienter—culpable intent—the U.S. Court of Appeals for the First Circuit affirmed Oct. 3.
In 2012, Vertex was engaged in clinical trials of a combination drug therapy to treat patients with a rare form of cystic fibrosis, a fatal and ...
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