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Appeals court revives securities fraud claims against Ariad
December 1, 2016 / 12:11 PM / a year ago

Appeals court revives securities fraud claims against Ariad

A federal appeals court has revived securities fraud claims against cancer drug developer Ariad Pharmaceuticals, finding the company may have misled investors in 2012 about the risks of its leading product, leukemia drug ponatinib.

In a decision on Monday, a three-judge panel of the 1st U.S. Circuit Court of Appeals said Ariad officials may have been “knowingly or recklessly misleading” shareholders by touting the purportedly benign profile of the drug ponatinib, even after clinical trials found serious cardiovascular problems.

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