Hsingching Hsu v. Puma Biotechnology, Inc.

ORDER DENYING MOTION TO DISMISS

Lead Plaintiff Norfolk County Council, as administering authority of the Norfolk Pension Fund, and others filed this lawsuit under the Securities Exchange Act of 1934 (“Exchange Act”) and Securities and Exchange Commission Rule 10b-5. Defendants Puma Biotechnology, Inc., Alan H. Auerbach, and Charles R. Eyler (collectively, “Puma”) filed a motion to dismiss the case (“Motion to Dismiss”) under Federal Rule of Civil Procedure 9(b) (“Rule 9(b)”), Federal Rule of Civil Procedure 12(b)(6) (“Rule 12(b)(6)”), and the Private Securities Litigation Reform Act (“PSLRA”).

The Court DENIES the Motion to Dismiss.

1. BACKGROUND

In 2013—the most recent year numbers are available—232,924 people in the Unit *1278 ed States were diagnosed with breast cancer. Breast Cancer Statistics, Centers for Disease Control ánd Prevention, http:// www.cdc.gov/cancer/breast/statistics/index. htm (last visited September 30, 2016). That year, 41,324 people in the United States died from breast cancer. Id. The disease is the most common cancer among women in our country. See id. And as they often do, statistics fail to give us the right measure of heartbreak. Breast cancer…