Judge Paul Crotty of the U.S. District Court for the SDNY granted preliminary approval for Bristol-Myers Squibb Co.’s settlement in the securities class action accusing it of hiding information related to a case involving its anti-blood clotting medication Plavix, Reuters reports. Under the settlement, BMS will pay to pay $125 million. Judge Crotty called the settlement “fair, reasonable and adequate to the class,” and scheduled a Dec. 8 hearing for final approval.
The lead plaintiff in the Bristol-Myers class-action case is the Ontario Teachers’ Pension Plan Board.
Read the Reuters article