Deficient Proposed Securities Class Action Settlement Against Drug Maker Denied

Mealey's (December 24, 2019, 12:41 PM EST) -- SAN DIEGO — A federal judge in California on Dec. 20 denied a motion for preliminary approval of a securities class action settlement between lead plaintiffs and a biopharmaceutical company and certain of its current and former senior executives, ruling that the proposed $900,000 settlement suffers from a number of deficiencies pertaining to its release of claims and proposed notice (In re Regulus Therapeutics Inc. Securities Litigation, No. 17-182, S.D. Calif., 2019 U.S. Dist. LEXIS 219125)....