Cempra Wins Affirmance of Dismissal of Securities Class Action

Skadden represented Cempra, Inc. (now Melinta Therapeutics Inc.) and certain of its former officers in securing an affirmance of the dismissal of a putative class action alleging securities fraud in connection with the company's disclosures regarding its developmental drug for the treatment of community-acquired bacterial pneumonia. The U.S. Court of Appeals for the Fourth Circuit affirmed the dismissal on the grounds that the complaint failed to plead the requisite strong inference of scienter under the Private Securities Litigation Reform Act.