Judge OKs Settlement In Drug Securities Case

Law360, New York (September 10, 2007, 12:00 AM EDT) -- A judge has given his final approval to a $52.5 million settlement agreement in two related securities cases filed against pharmaceutical company Sepracor Inc. over statements made about the antihistamine, Soltara.

In an order Thursday, Judge Morris E. Lasker of the U.S. District Court for the District of Massachusetts gave his approval to the award, which plaintiffs' counsel touted as one of the largest recoveries in a securities fraud class action against a drug company related to drug development.

“Defendants have maintained throughout the pendency of...
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