Regulus Investor Drops Suit After $1.7 Billion Novartis Sale

A Regulus Therapeutics Inc. stockholder dropped his lawsuit seeking to stymie the biopharmaceutical company’s up-to-$1.7 billion sale to Novartis AG days after the acquisition completed.

Shareholder Arsh Saini told Judge Benjamin J. Cheeks of the US District Court for the Southern District of California that he was voluntarily dropping his claims on June 27, without prejudice to the ability to refile them. Novartis said on June 25 that its deal to buy Regulus, which is developing a kidney disease treatment, had finished. Saini’s lawsuit had sought to pause the sale, saying Regulus’ recommendation statement had omitted key information about the ...