Talks Underway To End Cocrystal Pharma Stock-Drop Suit

Law360 (June 8, 2020, 3:26 PM EDT) -- Settlement talks are underway in a derivative suit brought by Cocrystal Pharma Inc. shareholders over a $27 million pump-and-dump scheme that purportedly drove down the value of the company's stock, according to a New Jersey federal court filing Monday.

While mediation with a retired judge failed to yield a deal in the suit against the former executives and high-profile investors of Cocrystal Pharma's predecessor, BioZone Pharmaceuticals Inc., the parties have continued to discuss a resolution, according to the stipulation signed by U.S. District Judge Kevin McNulty.

The stipulation extends the deadline to answer the complaint until further notice and orders the...

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