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CHESTER COUNTY EMPLS. RETIREMENT FUND v. ALNYLAM PHARMS., INC.

Index No. 655272/19. Appeal No. 13702. Case No. 2020-04534.

193 A.D.3d 638 (2021)

148 N.Y.S.3d 80

2021 NY Slip Op 02595

Chester County Employees Retirement Fund, Respondent, v. Alnylam Pharmaceuticals, Inc., et al., Appellants.

Appellate Division of the Supreme Court of New York, First Department.

Decided April 29, 2021.

Attorney(s) appearing for the Case

Skadden, Arps, Slate, Meagher & Flom LLP, New York ( Alaxander C. Drylewski and Michael S. Hines of the Bar of the State of Massachusetts, admitted pro hac vice, of counsel), for Alnylam Pharmaceuticals, Inc., John M. Maraganore, Michael P. Mason, Dennis A. Ausiello, Michael W. Bonney, John K. Clarke, Marsha H. Fanucci, Steven M. Paul, David E.I. Pyott, Paul R. Schimmel, Amy W. Schulman, Phillip A. Sharp and Kevin P. Starr, appellants.

Shearman & Sterling LLP, New York ( Daniel Lewis of counsel), for Goldman Sachs & CO. LLC, J.P. Morgan Securities LLC, Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Piper Jaffray & Co., JMP Securities LLC, Needham & Company, LLC, Chardan Capital Markets, LLC and B. Riley FBR, Inc., appellants.

Robbins Geller Rudman & Dowd LLP, Melville ( Douglas Wilens of counsel), for respondent.

Concur—Webber, J.P., Singh, González, Shulman, JJ.

Defendants have failed to utterly refute plaintiff's factual allegations and conclusively establish a defense to the asserted claims as a matter of law (CPLR 3211[a][1], [7]). Plaintiff has sufficiently alleged causes of action based on the Federal Securities Act sections 11 (15 USC § 77k), 12(a)(2) (15 USC § 771[a][2]), and 15 (15 USC § 77o) (see also Litwin v Blackstone Group, L.P., 634 F.3d 706, 716 [2d Cir 2011]...

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