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SCHUENEMAN v. ARENA PHARMACEUTICALS, INC.

No. 14-55633.

840 F.3d 698 (2016)

Todd SCHUENEMAN, on behalf of himself and all others similarly situated; William Sutliff; Jean Sutliff; Arena Investors Group; Anthony Caravella, Plaintiffs, and Carl Schwartz, Plaintiff-Appellant, v. ARENA PHARMACEUTICALS, INC.; Jack Lief; Robert E. Hoffman; Dominic P. Behan; William R. Shanahan; Christy Anderson, Defendants-Appellees, v. Chris Georgakopoulos; Larry Sprowl; Maxat Amankossov; David Prince; Ford L. Williams; John Lee; Babak Ghayour, Movants.

United States Court of Appeals, Ninth Circuit.

Filed October 26, 2016.

Attorney(s) appearing for the Case

Peter K. Stris (argued), Dana Berkowitz , and Victor O'Connell , Stris & Maher LLP, Los Angeles, CA; Laurence D. King and Mario M. Choi , Kaplan Fox & Kilsheimer LLP, San Francisco, CA; Robert N. Kaplan and Jeffery P. Campisi , Kaplan Fox & Kilsheimer LLP, New York, NY; for Plaintiff-Appellant.

John C. Dwyer (argued), Cooley LLP, Palo Alto, CA; Koji F. Fukumura , Mary Kathryn Kelley , and Ryan E. Blair , Cooley LLP, San Diego, CA; for Defendants-Appellees.

Before: Harry Pregerson, Jay S. Bybee, and N. Randy Smith, Circuit Judges.

OPINION

Lead plaintiff Carl Schwartz filed a putative federal securities class action against Defendants Arena Pharmaceuticals, Jack Lief, Dominic Behan, William Shanahan, and Christen Anderson1 in connection with public statements made about Arena's weight-loss drug, lorcaserin. At various...

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