AstraZeneca Beats U.S. Shareholder Lawsuit Over COVID Vaccine Disclosures

‘AstraZeneca Plc on Monday won the dismissal of a U.S. shareholder lawsuit claiming that it concealed problems in developing its COVID-19 vaccine, making it unlikely the treatment would win regulatory approval 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 Britain-based company intended to defraud them.

In a 23-page decision, Oetken said AstraZeneca and its executives had no "generalized duty" to disclose "negative facts" about the trials.

He also said Chief Executive Pascal Soriot was not liable for saying AstraZeneca was "moving quickly but without cutting corners," and that the company was not liable for general pledges to "follow the science" and make safety a priority.’


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