Bristol-Myers Settles Plavix Securities Suit For $125M

Law360, New York (July 23, 2009, 10:40 PM EDT) -- Bristol-Myers Squibb Co. has reported a $125 million 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.

The settlement, reached in May, was disclosed to the public on Thursday in the company’s quarterly report filed with the U.S. Securities and Exchange Commission.

Previously, an attorney for the plaintiffs, Salvatore Graziano of Bernstein Litowitz Berger & Grossman LLP, said the...
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