Aquestive Therapeutics Wins Dismissal of Securities Class Action

On March 14, on behalf of Aquestive Therapeutics, Inc. and three of its officers, Skadden secured a motion to dismiss a putative class action brought under the federal securities laws in the U.S. District Court for the District of New Jersey. The plaintiffs asserted claims under the Securities Exchange Act of 1934, alleging that the defendants made false and misleading statements about the likelihood of FDA approval of its new drug application for Libervant, an epilepsy treatment. In dismissing the complaint in its entirety, the court held that the plaintiffs failed to adequately plead that any of the challenged statements were false or misleading and also failed to plead scienter.