Court OKs Pharma Investors' $12.7M Deal Over Drug Trial

By Katryna Perera (January 12, 2022, 10:03 PM EST) -- A California federal judge granted preliminary approval of the $12.7 million settlement between Odonate Therapeutics Inc. and investors on Wednesday, ending a class action that accused the pharmaceutical company of misleading investors by concealing information on a trial for a chemotherapy agent in development.

According to U.S. District Judge Marilyn L. Huff's order, the parties went through three weeks of virtual meditation in the fall of 2021 to reach a deal.

Under the terms of the settlement, the funds will be distributed to class members on a pro rata basis in accordance with when their stock was purchased or acquired and/or...

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