Pozen Settles Shareholder Class Action Lawsuit
The class action lawsuit which was filed in United States District Court against Chapel Hill pharmaceutical company Pozen has been agreed to be settled .
The lawsuit alleged that the company has issued false and misleading statements about migraine drug candidates MT 100 and MT 300. The U.S. Food and Drug Administration rejected MT 300, an injectable treatment, in October 2003 and MT 100, an oral migraine treatment, in June 2004.
The settlement is subject to the Court approval.
Filed under Class Action, General Law, Settlements
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