12 results for 'cat:"Settlements" AND cat:"Securities" AND cat:"Class Action"'.
J. Bashant grants final approval to a $7.5 million settlement in a securities class action against GW Pharmaceuticals. Although the settlement amount represents approximately 1% of the maximum potential damages estimated by the shareholder's expert, GW Pharmaceuticals persuasively argues "that the hypothetical $600 million recovery was a 'pie in the sky value'." Furthermore, the settlement amount is "very much in line" with settlements in other similar litigation.
Court: USDC Southern District of California, Judge: Bashant, Filed On: March 25, 2024, Case #: 3:21cv1019, NOS: Securities/Commodities/Exchange - Other Suits, Categories: settlements, securities, class Action
J. Zilly defers the investors' proposed notices and claim form as part of their unopposed renewed motion for preliminary approval of a proposed settlement for their class action, which alleges that the pharma company made misleading claims about its registration statement. The investors and the pharma company are to craft a suitable opt-out form, which they will include with the notice to putative class members that is available for download from the settlement administrator's website.
Court: USDC Western District of Washington, Judge: Zilly, Filed On: February 15, 2024, Case #: 2:21cv861, NOS: Securities/Commodities/Exchange - Other Suits, Categories: settlements, securities, class Action
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J. Merkl grants preliminary approval to a $6.75 million settlement to resolve a putative class action brought by investors against a mining firm alleging false or misleading statements made regarding the size, scope and duration of a proposed copper and gold mine in Bristol Bay, Alaska. The EPA subsequently blocked the project under provisions of the Clean Water Act to much fanfare from environmentalists, citing adverse effects to local salmon fisheries and wetlands. On news of the ruling, the company's stock price fell to $0.9 per share, resulting in heavy investor losses.
Court: USDC Eastern District of New York, Judge: Merkl, Filed On: August 25, 2023, Case #: 1:20cv5917, NOS: Securities/Commodities/Exchange - Other Suits, Categories: settlements, securities, class Action
[Consolidated.] J. Bolden grants final approval of the settlement agreement, ruling that there is no evidence of coercion or bad-faith negotiations on the part of either party, while only one objection from a potential class size of 160,000 proves the result is fair and the settlement amount will adequately compensate all participants.
Court: USDC Connecticut, Judge: Bolden, Filed On: August 4, 2023, Case #: 3:18cv1818, NOS: Securities/Commodities/Exchange - Other Suits, Categories: settlements, securities, class Action