Tentative Deal Struck In Gilead Securities Action

Law360, New York (March 17, 2010, 4:40 PM EDT) -- Gilead Sciences Inc. has reached an agreement in principle on a settlement with shareholders that accused the pharmaceutical company of boosting its profits by engaging in off-label marketing of a blockbuster HIV drug.

Judge Susan Illston of the U.S. District Court for the Northern District of California on Tuesday signed off on an order delaying discovery and class certification processes while settlement negotiations continue. The order also set an April 12 deadline for a preliminary settlement motion or status report on the negotiations.

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