Sigma Pharmaceuticals has agreed to pay $57.5 million to end a shareholder class action over its disclosure during the financial crisis.
Analysts were mixed on the news, describing it as ”clearly a disappointment” for Sigma, a buying opportunity and ”consistent with a pragmatic management approach and desire to ‘move on.”’ The settlement brings to an end a two-year battle against law firm Slater & Gordon, which represented 280 retail shareholders, super funds and banks that had purchased Sigma shares between September 7, 2009, and February 25, 2010.
‘Enforcement 40’ for 2020
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