Dendreon Inks $17M Deal In Shareholder Action

Law360, New York (November 5, 2010, 4:27 PM EDT) -- A federal judge has given preliminary approval to a $16.5 million settlement that would end a class action alleging that Dendreon Corp. deceived investors about the approval process for the biotechnology company's prostate cancer drug Provenge.

Judge Marsha Pechman of the U.S. District Court for the Western District of Washington granted preliminary approval to the settlement Wednesday, the same day that Dendreon announced that sales for Provenge had increased in recent months.

Dendreon said Wednesday that its sales of Provenge had increased from $5.2 million in...
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