CBD Co. Zynerba, Investors Seek OK For $4M Settlement Deal
Law360 (May 3, 2021, 5:13 PM EDT) -- Investors in CBD drugmaker Zynerba Pharmaceuticals have asked a federal judge in Pennsylvania to approve a $4 million settlement deal that would end claims that the company withheld unfavorable information about a clinical trial for a drug candidate.
In a Friday motion, lead plaintiffs Scott Whiteley and Harry Berger told U.S. District Judge Nitza I. Quiñones Alejandro that Zynerba's insurer would pay the multimillion dollar settlement sum, which they characterized as "an excellent result" for the settlement class.
"So long as the settlement appears prima facie reasonable, co-lead counsel request that the court preliminarily approve the settlement," the investors said....
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