Biotech Co Settles Suit Naming Law Firm Cooley for $60 Million

A biotech company that was sued over its merger with a blank check company has resolved the lawsuit for $60 million, settling claims against the law firm Cooley LLP in the process.

Biote Holdings, which sells hormone optimization therapies, settled the lawsuit filed in Delaware Chancery Court earlier this month by the ex-wife of the company’s cofounder, who alleged her shares in the company were diluted by the deal. The suit alleged company insiders benefited from a transaction with Haymaker Acquisition Corp. III that delivered almost no cash to the company, and that Cooley assisted in “tricking” the founder into ...