Shareholder suit against Alere stays alive

A Massachusetts federal judge dismissed most of a securities fraud class action case against Alere (NYSE:ALR) yesterday, saying that the complaint did not support the claim that Alere senior management had prior knowledge of the company’s alleged wrongdoing.

U.S. district judge Patti Saris did, however, allow one part of the complaint to move into discovery. The claim revolves around Alere’s INRatio blood testing devices, which the company voluntarily withdrew from the market in 2016 after years of problems with the product.

Get the full story at our sister site, Drug Delivery Business News.

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