Post by gpawelski on Mar 16, 2008 1:33:07 GMT 1
OSI Pharmaceuticals Inc. expects to pay $500,000 to settle a class-action lawsuit related to its Tarceva lung-cancer drug.
OSI's full preliminary settlement amount is $9 million, but its insurer is covering the remainder of the amount. Terms of the settlement are subject to court approval.
The settlement stems from a lawsuit filed in December 2004 alleging that OSI had made false and misleading statements about Tarceva's potential to increase survival from lung cancer.
Under terms of the agreement, the lawsuit will be dismissed with prejudice and without OSI or its executives admitting any liability.
www.forbes.com:80/feeds/ap/2008/03/14/ap4775891.html
This lawsuit was brought on by shareholders:
www.lawcash.com:80/attorney/4115/osi-pharmaceuticals-lawsuit.asp
OSI's full preliminary settlement amount is $9 million, but its insurer is covering the remainder of the amount. Terms of the settlement are subject to court approval.
The settlement stems from a lawsuit filed in December 2004 alleging that OSI had made false and misleading statements about Tarceva's potential to increase survival from lung cancer.
Under terms of the agreement, the lawsuit will be dismissed with prejudice and without OSI or its executives admitting any liability.
www.forbes.com:80/feeds/ap/2008/03/14/ap4775891.html
This lawsuit was brought on by shareholders:
www.lawcash.com:80/attorney/4115/osi-pharmaceuticals-lawsuit.asp