Robbins Geller Scores Major Appellate Win for Allergan and its Shareholders

In an opinion issued today, a Ninth Circuit Court of Appeals panel held that the district court “misapplied governing Delaware law and improperly drew inferences against Plaintiffs rather than in their favor.”  Order at 4.  As such, the Ninth Circuit “conclude[d] that Plaintiffs’ particularlized allegations establish a reasonable doubt as to whether the Board faces a substantial likelihood of liability and as to whether the Board is protected by the business judgment rule” and reversed the district court’s dismissal of the case.  Id.

The case will be remanded to the district court for further proceedings.