Precigen’s $13 Million Settlement of Investor Claims Finalized

Precigen Inc.‘s agreement to pay investors $13 million to settle class claims that it misrepresented progress in a synthetic biology program merits final approval, a federal court ruled.

Attorneys’ fees of 25% of the settlement fund, or $3.25 million—plus 25% of the interest earned in the escrow account—are reasonable, Judge Beth Labson Freeman said Monday for the US District Court for the Northern District of California.

• The investors said Precigen made misleading statements about its methane bioconversion program, which sought to convert natural gas into commercially valuable products
• Labson preliminarily approved the deal in a hearing in July, calling ...