$12.75M Securities Settlement Against Cancer Drug Maker Gains Initial Approval

Mealey's (January 14, 2022, 8:04 AM EST) -- SAN DIEGO — A federal judge in California on Jan. 11 granted preliminary approval of a $12.75 million settlement in a class action against a pharmaceutical company and certain of its senior executives on claims that they misrepresented adverse clinical trial results for the company’s metastatic breast cancer (MBC) treatment candidate in violation of federal securities laws, ruling that the settlement is fair, reasonable and adequate....