Civil Litigation
Sep. 12, 2022
Shareholders settle with biotech firm over COVID pill
Plaintiffs’ counsel Steve W. Berman and Reed R. Kathrein noted that the agreement would leave open the possibility of future litigation against a hedge fund that previously controlled the biotech company.
A San Francisco based biotechnology company and a class of shareholders presented a $12 million settlement to a federal judge, aiming to end a lawsuit alleging the company fraudulently told the public it was developing a COVID-19 pill vaccine.
U.S. District Judge Vince Chhabria will decide on approval of the settlement on Sept. 29.
In the settlement proposal on Thursday, plaintiffs’ counsel Managing Partner Stev...
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