Ionis Pays $12.5 Million, Ends $500 Million Akcea Deal Challenge

Ionis Pharmaceuticals Inc. and former leaders of Akcea Therapeutics Inc. are free of litigation challenging a $500 million merger between the two companies after a Delaware judge approved their $12.5 million settlement with investors.

Vice Chancellor Lori W. Will signed off Tuesday on the pact resolving class action claims that faced Ionis and ex-members of Akcea’s board and management in Delaware’s Chancery Court. Ionis took Akcea private in October 2020.

The lawsuit, filed in August 2001, accused Ionis and Akcea’s board of engineering the transaction partly to undermine earlier litigation over a drug licensing deal between the companies, which were ...