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CV Therapeutics Offers $13.5M In Settlement Agreement

Law360 (November 3, 2006, 12:00 AM EST) -- Insurers of biopharmaceutical company CV Therapeutics will pay $13.5 million to settle a federal class action lawsuit, the company revealed in a statement filed Thursday with the Securities and Exchange Commission.

The settlement is part of a preliminary agreement reached by CV Therapeutics Inc. and stock holders who claimed that the company artificially inflated the price of its stock in August 2003.

The SEC filing also revealed that CV Therapeutics’ insurers will pay the court-approved fees of the plaintiffs' counsel.

This settlement was reached by CV...
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