News Releases3.27.26
Barnes & Thornburg Wins Back-to-Back Dismissals of SEC Scheme Liability Claims Brought Against Corporate Executives
Barnes & Thornburg won dismissal of claims brought by the U.S. Securities and Exchange Commission (SEC) against Allarity Therapeutic’s former chief medical officer, Dr. Marie Foegh. In March 2025, the SEC filed suit against Dr. Foegh, and two other former Allarity executives, alleging that they engaged in a scheme to defraud investors by concealing adverse regulatory information about a kidney cancer drug.
On March 24, 2026, U.S. District Judge Patti Saris in the District of Massachusetts granted Dr. Foegh’s motion to dismiss all claims, finding that the SEC’s scheme liability claims were legally untenable and “relatively threadbare.”
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