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Aveo Agrees To $18M Deal To End Cancer Drug Investor Suit

Law360 (February 2, 2018, 4:29 PM EST) -- Investors in Aveo Pharmaceuticals Inc. on Friday asked a Massachusetts federal judge for an initial sign-off on a deal worth more than $17.7 million that would resolve a class action alleging the drugmaker hid U.S. Food and Drug Administration concerns about tivozanib, Aveo’s drug candidate for treating kidney cancer.

The proposed settlement outlined in filings by lead plaintiffs Robert Levine and William Windham provides for Aveo to pay $15 million into a settlement fund for distribution to a class of investors who purchased Aveo stock during...
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