AstraZeneca beats US shareholder lawsuit over COVID-19 vaccine disclosures
© Reuters. FILE PHOTO: The company logo for pharmaceutical company AstraZeneca is displayed on a screen on the floor at the New York Stock Exchange, U.S., April 8, 2019. REUTERS/Brendan McDermid/File Photo
NEW YORK (Reuters) – AstraZeneca (NASDAQ:) Plc on Monday won the dismissal of a U.S. shareholder lawsuit claiming that the company failed to disclose problems in developing its COVID-19 vaccine, making it unlikely to win regulatory approval to market the vaccine in the United States.
U.S. District Judge Paul Oetken in Manhattan said AstraZeneca shareholders in the proposed class action failed to identify any misleading statements, or adequately allege that the company intended to defraud them.
Oetken dismissed the lawsuit with prejudice, meaning it cannot be brought again.
Lawyers for the shareholders did not immediately respond to requests for comment. AstraZeneca and its lawyers did not immediately respond to similar requests.
The case is In re AstraZeneca Plc Securities Litigation, U.S. District Court, Southern District of New York, No. 21-00722.