I have briefly skimmed through comments and I have also not read...

I have briefly skimmed through comments and I have also not read the AFR article, but my interpretation of events is that it is not so much whether the company misled shareholders but whether they misled the specialist oncology advisers who voted 9/1 to approve the drug. It appears that with such an overwhelming vote FDA approval is virtually guaranteed.
The decision to not approve in these circumstances is unprecedented and could not have been anticipated by the company. Did the rejection occur because the company deviously and deliberately misrepresented their results or did the FDA change the goalposts after the game was over.
Who knows what the real agenda of the FDA is and if one looks at the whole COVID time period one has to be suspicious about the undue influence of major pharmaceutical companies on the FDAs independence in relation to a whole lot of drugs.
Because of the 9/1 verdict of the oncology experts the class action should be dead in the water. What transpired after that is a bit out of the company’s control. Whilst the FDA hinted at reasons for their decision those reasons seam somewhat arbitrary. Maybe the class action should’ve been directed at the FDA for taking the virtually unprecedented step of going against its own experts.
I get pissed off with this American sourced obsession in class actions that seeks to protect investors from losing money when making a speculative investment. It’s always someone else’s fault than the punter’s.
Sometimes in life sh*t happens.