Law360, New York (August 28, 2008) -- King Pharmaceuticals Inc. has agreed to pay $13.5 million in legal fees and make changes to its corporate governance to settle a shareholder derivative lawsuit that accused the company of breaching its fiduciary duty by underpaying commitments to Medicaid.
The company revealed the settlement in a U.S. Securities and Exchange Commission filing on Wednesday. The case was filed in 2003 in state court in Tennessee, where King is headquartered....
