Second Circuit Affirms Lower Court's Class Action Dismissal, Finding No Material Misstatements Concerning Company's Post-Acquisition Plans

摘要

On April 29, 2019, the United States Court of Appeals for the Second Circuit affirmed the United States District Court for the Southern District of New York's dismissal of a Fourth Amended Complaint in a securities class action brought by Endo International PLC ("Endo") investors ("Plaintiffs") against Endo, holding that Endo's statements concerning its acquisition of another company and changes to come thereafter were not materially misleading and thus did not constitute fraud under Section 10(b) and Rule 10b-5 thereunder.