Vera Therapeutics investors have voluntarily dismissed a derivative suit on behalf of the biotech company alleging a venture capital fund with a seat on the board engaged in stock trading within a short period.
The investment funds that sued Sofinnova Venture Partners X LP and related entities notified the US District Court for the Southern District of New York of the agreement on Thursday, without saying why they’re dropping the action. Attorneys for the plaintiffs, Sofinnova, and nominal defendant Vera didn’t immediately respond to an email requesting information and comment.
- Sofinnova, an early investor in Vera when it was still ...
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