Pozen Settles Securities Class Action

Law360, New York (July 10, 2007, 12:00 AM EDT) -- Pharmaceutical company Pozen Inc. disclosed Tuesday that it had settled a class action accusing it of artificially inflating its stock price by misleading investors about the approvability of two headache drugs.

Pozen said all claims against the company would be dropped, and that the settlement would be paid entirely out of the company's directors and officers' liability insurance. Though the specific terms of the settlement remained temporarily undisclosed, an attorney for Pozen said everything would be revealed once the plaintiffs moved for preliminary court approval....
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