Litigation Team Wins Complete Dismissal of Securities Class Action Against Genocea Biosciences, Inc.
A Ropes & Gray litigation team representing Genocea Biosciences, Inc. and certain of the company’s current and former officers secured the dismissal of an investor class action against the company in the United States District Court for the District of Massachusetts. Three proposed class actions, consolidated in Boston, alleged that Genocea made materially false and misleading disclosures related to the prospects for a vaccine in the company’s development pipeline. Judge Patti B. Saris dismissed the case in its entirety, accepting Ropes & Gray’s arguments that the plaintiffs failed to plead that Genocea’s disclosures were materially false or misleading, or made with fraudulent or reckless intent.
“We are pleased with the court’s thoughtful and well-reasoned decision,” Boston-based litigation & enforcement partner Randy Bodner told Law360. “Our securities litigation practice is known for having secured dozens of successful outcomes for life sciences and health care companies over many years. It’s gratifying to see Genocea succeed as well.”