Inter-Local Pension Fund GCC/IBT v. Rigel Pharmaceuticals, Inc., et al.

Plaintiff brought a securities fraud action individually and on behalf of all other persons who purchased or otherwise acquired the common stock of Rigel between certain dates, pursuant to sections 10(b) and 20(a) of the Securities and Exchange Act of 1934, 15 U.S.C. 78j(b) and 78t(a), and the rules and regulations promulgated thereunder. Plaintiff also brought claims on behalf of itself and persons who purchased Rigel stock traceable to the registration statement and prospectus issued in connection with Rigel's February 2008 stock offering. The court affirmed the district court's order granting defendants' motion to dismiss the complaint where plaintiff failed to meet the pleading requirements. View "Inter-Local Pension Fund GCC/IBT v. Rigel Pharmaceuticals, Inc., et al." on Justia Law