Tricida Investors Get $14 Million Kidney Drug Accord Finalized

Tricida Inc. investors won final approval for a nearly $14 million settlement that ends a lawsuit alleging the drug developer misrepresented a new kidney treatment’s prospects.

With Tricida out of the class action following its 2023 bankruptcy, CEO Gerrit Klaerner will supply the payment from his directors and officers insurance under the terms of the agreement, Judge Haywood S. Gilliam Jr. said Thursday for the US District Court for the Northern District of California. The fact that the insurance policy would be a limited and “wasting” asset in continued litigation contributed to Gilliam’s determination that the deal was fair, reasonable, ...