Akero Defeats Investor Lawsuit Over Liver Drug Trial Design (1)

Akero Therapeutics Inc. beat allegations the drug maker knowingly misled investors over its potential liver disease treatment’s clinical trial participants.

The investors’ theory of intent to deceive still contained logical gaps that couldn’t overcome a non-fraudulent inference, Judge Yvonne Gonzalez Rogers said. The US District Court for the Northern District of California judge tossed the proposed class action without leave to amend, saying additional allegationsfailed to boost their theory.

“Even accepting plaintiffs’ framing of the study’s timeline, the Court fails to see how this alone strongly indicates an intent to mislead when defendants still had a 60-week ‘follow-up’ period ...