Opko Inks $16.5M Investor Deal After SEC Suit Drops Stock

Law360 (June 29, 2020, 9:33 PM EDT) -- Opko Health Inc. has reached a $16.5 million deal resolving investor claims that it artificially inflated the stock of companies it had invested in, causing its own stock to drop when the U.S. Securities and Exchange Commission sued over the behavior, according to settlement papers filed in Florida federal court Monday.

Lead plaintiff The Amitim Funds told the court it has agreed to resolve all claims in the case in exchange for a cash payment of $16.5 million for the benefit of the settlement class, saying the deal secures the "greatest possible monetary recovery" for the class while taking into account...

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