Judge Approves $10.5 Million Settlement Of Biopharmaceutical Stock Drop Suit

( June 18, 2025, 10:32 AM EDT) -- SAN DIEGO — A federal judge in California granted final approval to a $10.5 million settlement in a case brought by shareholders against a biopharmaceutical company and certain executives alleging that misstatements they made about the company’s manufacturing possibilities and approval prospects for its lead product candidate unlawfully inflated the company’s stock price, which dropped after the U.S. Food and Drug Administration rejected the company’s license application for the product candidate....