Bristol-Myers Nears Deal In Plavix Securities Suit

Law360, New York (June 15, 2009, 12:00 AM EDT) -- Bristol-Myers Squibb Co. has reached the outline of a settlement in a securities class action that accuses the drugmaker of duping shareholders and causing a stock drop when it failed to properly disclose a patent deal for a generic version of its blood-thinning drug Plavix.

In an endorsed letter dated June 3 but entered into the docket Monday, an attorney for the plaintiffs, Salvatore Graziano of Bernstein Litowitz Berger & Grossman LLP, said that the parties had reached an agreement in principle on a settlement in...
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