Ninth Circuit Rules That Imperfect Methodology Used By Pharmaceutical Company Does Not Constitute a Securities Law Violation and Clarifies the Supreme Court's Decision in Matrixx

Summary: On September 6, 2012, the United States Court of Appeals for the Ninth Circuit held in In re Rigel Pharmaceutical Securities Litigation that allegations that a pharmaceutical company used an imperfect methodology to present its clinical trial results were insufficient to plead securities law violations.