Forest Labs To Settle Shareholders' Suit For $65M

Law360 (November 11, 2008, 12:00 AM EST) -- Forest Laboratories Inc. has reached a tentative settlement of $65 million in a securities class action that claimed the company provided misleading information about the safety of its blockbuster antidepressants, Celexa and Lexapro.

The company said in a filing Monday with the U.S. Securities and Exchange Commission that it entered into a memorandum of understanding on Sept. 22.

Forest expects the deal - which also includes some of its officers, who were named as defendants - to be fully funded by insurance, but the company said...
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