By Chris Wack
Emergent BioSolutions said it agreed to pay $40 million to settle previously disclosed securities class-action litigation pending in the U.S. District Court for the District of Maryland.
Under the terms of the proposed settlement, the Gaithersburg, Md., biopharmaceutical company Friday said insurance proceeds would be substantially used to pay to settle the claims brought on behalf of stockholders who bought Emergent's stock between March 10, 2020, and Nov. 4, 2021.
The lawsuit was originally filed in 2021.
The proposed settlement, which is subject to court approval, includes no admission of liability or wrongdoing by Emergent or any current or former Emergent officers, directors or employees, and will resolve all claims against the company and other defendants.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
September 13, 2024 07:13 ET (11:13 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
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