Dismissal Secured in Putative Securities Class Action

Skadden secured a dismissal with prejudice in a putative securities class action lawsuit arising out of the auction and sale of Skadden client Gentium S.p.A., an Italian biotechnology company, to Jazz Pharmaceuticals. On January 22, Judge J. Paul Oetken of the U.S. District Court for the Southern District of New York held that the plaintiff’s amended complaint, which alleged violations of federal securities laws and breaches of Italian fiduciary duties, failed to state a claim