September 30, 2019 / 11:04 PM / 23 days ago

IN BRIEF: Bristol-Myers beats investor lawsuit over cancer drug trial

A federal judge on Monday dismissed a proposed shareholder class action against Bristol-Myers Squibb Co alleging the drugmaker overstated the likelihood of success of a clinical trial for an anti-cancer drug.

U.S. District Judge J. Paul Oetken in Manhattan ruled the plaintiffs have failed to allege the company and its executives intended to commit securities fraud in connection with clinical trial of the drug, Opdivo, or had a motive to do so.

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