KV Pharma Reaches $12.8M Deal To Settle Shareholder Action

Law360, New York (March 20, 2014, 5:52 PM EDT) -- KV Pharmaceutical Co. and the lead plaintiffs in a securities class action alleging the drugmaker hid U.S. Food and Drug Administration violations to inflate its share price have reached a $12.8 million settlement agreement that, if approved, would end more than five years of litigation, according to a filing in Missouri federal court Wednesday.

Lawyers for Norfolk County Retirement System and the State-Boston Retirement System, the court-appointed lead plaintiffs in the suit, asked a Missouri federal court Wednesday to approve the settlement, saying the amount was appropriate and...
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