Bristol-Myers Set To Pay Shareholders $185M

Law360, New York (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...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.