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Andrew Zenoff v. Sorrento Therapeutics, Inc., et al
Case Number:
22-55641
Court:
Nature of Suit:
3850 Securities, Commodities, Exchange
Companies
Sectors & Industries:
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March 25, 2024
COVID 'Cure' Claims Can't Sustain Fraud Suit, 9th Circ. Rules
A biopharmaceutical company's "enthusiastic" statements to Fox News and others about a potential COVID-19 cure do not amount to fraud and cannot sustain a shareholder lawsuit accusing the company and its top executives of deceiving the market by pretending that a breakthrough was much more consequential than it actually was, the Ninth Circuit ruled on Monday.
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February 14, 2024
Fox News' Sorrento Report Takes Center Stage At 9th Circ.
Counsel for Sorrento Therapeutics Inc. investors urged the Ninth Circuit on Wednesday to revive a securities suit alleging executives made misleading statements to Fox News about its COVID-19 research, prompting one judge to ask whether "you have to take things you hear on Fox News with a grain of salt."