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BMS To Settle Class Action Suit

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By: Tim Wright

Editor-in-Chief, Contract Pharma

Bristol-Myers Squibb Co. has received preliminary approval from U.S. District Judge, Stanley Chesler, of a settlement agreement with plaintiffs in the consolidated securities class action litigation, pending in the U.S. District Court for the District of New Jersey, relating to the BMS investigational compound, Vanlev. Under the proposed settlement, BMS will pay $185 million to create a Settlement Fund to pay the claims of certain investors who purchased BMS common stock during the period fr...

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