As securities class action filings continue to rise in the First Circuit, courts in the District of Massachusetts are setting a high bar for pleadings—especially when it comes to alleged material misrepresentations.

This second installment in our three-part series examines how recent decisions in the District of Massachusetts have applied the PSLRA’s safe harbor provision, Rule 9(b)’s particularity requirement, and the “reasonable investor” standard to dismiss securities fraud claims at the pleading stage.

We analyze three key cases— Paice v. Aldeyra Therapeutics , Premca v. iRobot , and Celano v. Fulcrum Therapeutics —that demonstrate how plaintiffs have struggled to overcome these legal thresholds, and what these decisions signal for litigants on both sides of future securities

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