Taro Reaches Settlement With Shareholders

Law360, New York (April 29, 2008, 12:00 AM EDT) -- After failing to get a purported shareholder class action dismissed in March, Taro Pharmaceuticals Ltd. said on Monday that it has reached an agreement with plaintiffs who alleged that the drug company sold excessive amounts of drugs in order to inflate its financial statements.

Taro agreed to enter into settlement talks with its shareholders on March 11, the same day a federal judge in the U.S. District Court for the Southern District of New York refused the company's motion to dismiss the case for failure to...
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