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IN RE SORRENTO THERAPEUTICS, INC. SECURITIES LITIGATION

No. 22-55641.

In re: SORRENTO THERAPEUTICS, INC. SECURITIES LITIGATION. ANDREW R. ZENOFF, Lead individually and on behalf of all others similarly situated, Plaintiff-Appellant, v. SORRENTO THERAPEUTICS, INC.; HENRY JI; MARK R. BRUNSWICK, Defendants-Appellees.

United States Court of Appeals, Ninth Circuit.

Filed March 25, 2024.

Attorney(s) appearing for the Case

Steven F. Hubachek (argued), Trig R. Smith , and Nicole Q. Gilliland , Robbins Geller Rudman & Dowd LLP, San Diego, California; for Plaintiff-Appellant.

Edward Han (argued), Sean D. Unger , and Austin M. Prouty , Paul Hastings LLP, Palo Alto, California; Timothy D. Reynolds , Paul Hastings LLP, Los Angeles, California; for Defendants-Appellees.

Opinion by Judge Callahan.

OPINION

When on May 15, 2020, Sorrento Therapeutics, Inc. ("Sorrento") announced that it might have discovered a "cure" for COVID-19, the price of its stock rose precipitously but then declined a week later following further explanations of Sorrento's discovery. Andrew R. Zenoff ("Zenoff"), individually, and on...

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