$8.9M Nuvelo Class Action Deal Wins Preliminary OK

Law360, New York (March 24, 2011, 7:53 PM EDT) -- A federal judge in California gave an initial green light Thursday to an $8.9 million settlement pact in a securities class action accusing pharmaceutical company Nuvelo Inc. of making misrepresentations about clinical trials for the blood clot dissolving drug alfimeprase.

Judge Charles R. Breyer of the U.S. District Court for the Northern District of California signed off on a preliminary approval order certifying a settlement class made up of all people who bought Nuvelo stock or call options between January 5, 2006, and December 8, 2006,...
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