Myovant Investor Claiming Skadden Conflict Denied Appellate Redo

A Myovant Sciences Ltd. investor won’t get another go at alleging a conflict of interest warranted disclosure when Skadden, Arps, Slate, Meagher & Flom LLP advised on the biopharmaceutical company’s 2022 buyout deal.

The US Court of Appeals for the Second Circuit denied shareholder Joseph Zappia’s petition for a rehearing Friday. The court in January had affirmed dismissal with prejudice of Zappia’s proposed class suit. The court found the alleged ties between the acquirer Sumitovant Biopharma Ltd. and Sumitomo Mitsui Banking Corp., which Skadden represented in other matters, “too attenuated.”

Zappia petitioned Feb. 13 for reconsideration of the ...