Opinion ID: 6800376
Heading Depth: 2
Heading Rank: 2

Heading: Best Estimates Statement

Text: In short, Appellants allege that the Best Estimates Statement was false and misleading because Appellees represented that the Adjusted Projections were their best available estimates despite knowing they were stale. Appellants, however, fail to plead falsity. As stated previously, the Proxy made clear that Keryx disclaimed that its financial projections showed anything other than Keryx’s views at the time they were prepared. The Best Estimates Statement, then, represents only that, when Keryx provided 10 these projections to MTS, MTS assumed that they “reflected the best currently available estimates and judgments of Keryx management[.]” JA214; see also OFI Asset Mgmt., 834 F.3d at 501. Because Appellants do not allege that MTS did not make this assumption, their claims concerning the Best Estimates Statement also fail.