Securities,
Civil Litigation
Oct. 1, 2021
Are investors misled if they only read the headline?
“You have unreasonable investors unreasonably relying on immaterial statements,” Riccardo Mauro DeBari, a partner at Thompson Hine LLP, argued in federal court.
A federal judge on Thursday expressed major concerns whether Vaxart, a biotechnology company based in San Francisco, and Armistice Capital, a hedge fund that was once its largest shareholder, have to face a securities lawsuit that says they exaggerated the prospects of a COVID-19 vaccine.
While company insiders and Armistice walked away with hundreds of millions of dollars, U.S. District Judge $95
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