Bayer To Pay $18.5M To Settle Baycol Securities MDL

Law360, New York (December 16, 2008, 12:00 AM EST) -- A judge has signed off on Bayer AG’s proposed $18.5 million settlement of a securities multidistrict litigation filed by shareholders alleging that the pharmaceutical giant misrepresented the safety and commercial viability of Baycol.

Judge William Pauley of the U.S. District Court for the Southern District of New York granted final approval of the settlement on Monday, following the preliminary approval granted in June.

The settlement resolves a lawsuit filed in 2003 by a class of shareholders who bought shares of Bayer or American Depository Receipts for...
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