New Jersey Carpenters Pension & Annuity Funds v. Biogen Idec Inc.

How courts have described this case

Verbatim parenthetical descriptions written by other courts when citing this decision. Ranked by citation-network relevance.

• concluding that a confidential source’s vague allegation that patients being treated with defendants’ pharmaceutical suffered “several” infections during trial was not inconsistent with what defendants publicly disclosed and therefore did not “contribute anything additional to plaintiffs’ case”
• discounting probative value of observations by confidential sources in part because the sources did not disclose when those observations were made
• observing that '-‘[t]he plaintiffs’ claim that Biogen hid data from the FDA is not based on any FDA finding that this was true. Rather, it is based primarily on plaintiffs’ reading of after-the-fact statements about earlier events.”
• discounting probative value of observations by confidential sources in part because the sources did not disclose when those observations were made
• affirming dismissal of complaint despite allegations from six confidential witnesses concerning company’s knowledge of a connection between its drug candidate and particular adverse events
• affirming dismissal of complaint where three defendants sold “virtually all” of their shares, not pursuant to Rule 10b-5 plans, because the timing was not suspicious

Source: CourtListener parenthetical corpus (CC0).