CORBAN v. SAREPTA THERAPEUTICS, INC.

Nos. 15-2135, 16-1658.

868 F.3d 31 (2017)

Mark A. CORBAN, individually and on behalf of all others similarly situated; Steve Fleischmann, individually and on behalf of all others similarly situated; Plaintiffs, Appellants, Daniel Baradarian, individually and on behalf of all others similarly situated; Bijesh Amin, individually and on behalf of all others similarly situated; Plaintiffs, v. SAREPTA THERAPEUTICS, INC.; Chris Garabedian; Edward Kaye, Defendants, Appellees, Sandesh Mahatme, Defendant.

United States Court of Appeals, First Circuit.

August 22, 2017.


Attorney(s) appearing for the Case

Stuart W. Emmons , with whom William B. Federman , Amanda B. Murphy , and Federman & Sherwood, Oklahoma City, OK, were on brief, for appellants.

Christopher G. Green , with whom Dalila Argaez Wendlandt , Boston, MA, Justin G. Florence , Mark D. Vaughn , Boston, MA, Alexia R. De Vincentis , and Ropes & Gray LLP were on brief, for appellees.

Before Kayatta, Circuit Judge, Souter, Associate Justice, and Stahl, Circuit Judge.


The price of the publicly traded securities issued by Sarepta Therapeutics, Inc. dropped sixty-four percent when Sarepta announced that the Food and Drug Administration deemed premature Sarepta's application for approval of a novel gene therapy. Promptly thereafter, several shareholders brought this securities fraud class...

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