"The Third Circuit, like the Fifth and the Ninth Circuits, seems to be holding a fairly tight line on stock drop cases -- requiring that plaintiffs clear the 'high bar' of the 'more harm than good' test before proceeding. And the 'Jander exception' to this rule -- requiring disclosure by fiduciaries where ultimate disclosure is 'inevitable' -- is, in the Third Circuit at least, being limited to a very narrow circumstance: where disclosure is imminent, and it has (at the time the motion to dismiss is being considered) already been admitted by the sponsor that disclosure is or was necessary." [Perrone v. Johnson & Johnson, No. 21-1885 (3d Cir. Sep. 7, 2022)]  MORE >>