NJ Judge OKs $8.1M Par Securities Settlement For Now

Law360, New York (January 30, 2013, 6:17 PM EST) -- A New Jersey federal judge on Tuesday preliminarily approved an $8.1 million settlement in a securities class action alleging Par Pharmaceutical Cos. misled investors and overstated its revenue by at least $55 million.

Lead plaintiff Louisiana Municipal Police Employees' Retirement System negotiated the settlement with the company, its former CEO and president, Scott Tarriff, and former vice president Dennis O'Connor, as both sides said the uncertainty, risks and cost of litigation made the settlement an attractive option. The defendants said the agreement was not an admission...
To view the full article, register now.