Release Opt Out Trips Up Tricida Ch. 11 Disclosure Approval

By Vince Sullivan (February 27, 2023, 7:32 PM EST) -- Drug developer Tricida Inc. failed to receive court approval Monday for its Chapter 11 plan disclosure statement when a Delaware bankruptcy judge said he had concerns about the release of claims through a disfavored opt-out provision that would extinguish the claims of shareholders in pending securities litigation against the company's CEO without any discernible consideration....

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