Emergent Biosolutions (EBS) said Friday that it reached an agreement to resolve a pending class action through a $40 million settlement.

The class action was filed in 2021 by certain shareholders who purchased Emergent common shares between March 10, 2020, and Nov. 4, 2021, according to the statement.

Emergent Biosolutions said the settlement deal remains subject to court approval and does not include its admission of liability or wrongdoing.

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