Judge Grants Final Approval Of $24M Securities Class Action Settlement

(April 20, 2018, 11:44 AM EDT) -- SAN DIEGO — A $24 million securities class action settlement between investors and a drug company and certain of its current and former senior executives meets all statutory requirements for approval, but the amount requested in attorney fees and costs is too significant, a federal judge in California ruled April 12 in granting final approval of the settlement and reducing the amount of attorney fees and costs (Todd Schueneman, et al. v. Arena Pharmaceuticals Inc., et al., No. 10-1959, S.D. Calif., 2017 U.S. Dist. LEXIS 65275)....