MannKind To Pay $23M In Investor Suit Over Diabetes Drug

Law360, Los Angeles (September 10, 2012, 5:09 PM EDT) -- A California judge on Monday preliminarily approved MannKind Corp.'s $23 million securities class action settlement with shareholders who claim the pharmaceutical company misled them about the regulatory approval prospects of its diabetes drug Afrezza, allegedly causing up to $158 million in investor losses.

U.S. District Judge Gary A. Feess granted preliminary approval to MannKind’s settlement with investors who purchased its stock between May 4, 2010, and Feb. 11, 2011, and also signed off on a deal imposing corporate governance reforms in a related derivative shareholder lawsuit...
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