Class Certification In Investor Suit Against Generic Drugmaker Upheld On Appeal

Mealey's (April 27, 2023, 1:59 PM EDT) -- PHILADELPHIA — A federal district court did not err in certifying a class of investors in a securities class action lawsuit against a generic drugmaker and two of its senior executives stemming from the company’s alleged involvement in an industry-wide price-fixing scheme and other anti-competitive behavior because the company forfeited its price impact argument by not bringing it in the district court during class certification briefing, a Third Circuit U.S. Court of Appeals panel ruled in affirming....