Insys Shareholders Ink Deal With Ex-CEO Over Fraud Claims

Law360 (July 14, 2020, 10:32 PM EDT) -- A proposed shareholder class announced a settlement with Insys Therapeutics' former CEO in Arizona federal court Tuesday, which would resolve securities fraud claims over the company's alleged kickbacks to doctors who prescribed an addictive opioid spray.

Although the terms of the deal weren't disclosed, lead plaintiff Clark Miller said the proposed class and former Insys CEO Michael Babich have agreed to resolve allegations against Babich for his purported role in the alleged bribery, according to a brief notice. The parties indicated that they are in the process of drafting a motion for preliminary approval and said it should be ready to...

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