GW Pharmaceuticals and its leaders will pay $7.5 million to end shareholder allegations that they filed a deficient proxy statement to win votes for Jazz Pharmaceuticals PLC’s 2021 buyout of the cannabinoid drugmaker.
The $7.2 billion acquisition of the British company that produced the first cannabis derived drug to win US regulatory approval drew the legal challenge in 2021 from holders of GW’s American Depositary Shares. The investors sought to recover damages for those who acquired the shares between March 10, 2021 and May 5, 2021, the day the merger closed.
- Settlement amount represents nearly 1% of the maximum ...
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