Isolagen To Hand Shareholders $5.25M

Law360, New York (March 17, 2009, 12:00 AM EDT) -- After years of struggle, Isolagen Inc. has surrendered the fight with shareholders for a cool $5.25 million, hoping to put to rest claims that the biotechnology company failed to accurately report problems with certain products, which caused the stock price to plummet.

Isolagen recently revealed that a tentative settlement deal had been worked out, with the individual defendants targeted in the suit planning to funnel Isolagen $5.25 million in directors and officers liability insurance, according to papers filed in the U.S. District Court for the Eastern...
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