Inovio, Investors Get $44 Million Class Vaccine Settlement OK’d

Inovio Pharmaceuticals Inc.'s agreement to settle a class action over statements its CEO made about its progress on a Covid-19 vaccine for at least $44 million has garnered final court approval.

The deal is fair, reasonable, and adequate, Judge Gerald J. Pappert said Wednesday for the US District Court for the Eastern District of Pennsylvania.

Only one shareholder objected out of more than 500,000 notices sent, Pappert said. Eleven class members opted out, he said.

Lead plaintiff Manuel Williams, along with Patrick McDermid and other investors, alleged that false or misleading company statements about vaccine progress caused stock prices to ...