Judge Gives Preliminary Approval To Par Settlement

Law360, New York (September 8, 2008, 12:00 AM EDT) -- A federal judge has granted preliminary approval of a settlement to a shareholder derivative lawsuit against Par Pharmaceuticals Co. Inc., in which shareholders allege losses stemming from falsified business reports.

The approval, handed down Friday in the U.S. District Court for the District of New Jersey, is contingent upon a final approval hearing on Oct. 14. Shareholders who object to the settlement terms are required to file their objections by then.

According to the proposed settlement, Par will increase the size of its finance and accounting...
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