August 24, 2017 / 9:09 PM / 4 months ago

Alere to face narrowed securities fraud lawsuit

A federal judge has significantly narrowed a shareholder lawsuit accusing Alere Inc and its senior executives of making false and misleading statements in the lead up to the announcement of a deal to sell the diagnostic testing company to Abbott Laboratories Inc.

U.S. District Judge Patti Saris in Boston acknowledged in Wednesday’s ruling that, after the planned acquisition by Abbott was announced in February 2016, Alere disclosed a “steady drumbeat of negative information.”

To read the full story on Westlaw Practitioner Insights, click here: bit.ly/2g8LEiG

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