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Bristol-Myers Set To Pay Shareholders $185M

Law360 (February 9, 2006, 12:00 AM EST) -- A judge has set the stage for Bristol-Myers Squibb Co. to hand out $185 million in a proposed settlement that would end a securities class action lawsuit brought by shareholders over an experimental heart drug the company touted as a future blockbuster, which later proved to be potentially fatal.

Earlier this week, U.S. District Judge Stanley Chesler gave his preliminary approval for a plan to create a $185 million settlement fund that will reimburse certain investors who purchased the global pharmaceutical company’s common stock between October...
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