Investors, NPS Pharma Strike $15M Deal In Preos Suit

Law360, New York (February 27, 2009, 12:00 AM EST) -- The lead plaintiff in a drawn-out securities suit against NPS Pharmaceuticals Inc. has asked the federal court in Utah to approve a $15 million settlement between the drugmaker and stockholders, who claim NPS concealed information about bone-density drug Preos in order to artificially inflate the company's stock value.

The unopposed motion for preliminary approval of the settlement and preliminary class certification was lodged Thursday in the U.S. District Court for the District of Utah, where litigation against NPS has been pending since July 2006.

If approved,...
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