Array BioPharma $8.5 Million Deal With Investors Wins Final Nod

Array BioPharma Inc. and investors who say it made misstatements about a new melanoma drug convinced a federal judge in Colorado to grant final approval to their $8.5 million class settlement.

The cash deal resolves allegations that the pharmaceutical company misled investors about the Food and Drug Administration approval process for cancer drug binimetinib, the U.S. District Court for the District of Colorado said. Array, which is now a subsidiary of Pfizer Inc., didn’t admit any wrongdoing.

The settlement class includes everyone who acquired Array common stock from June 30, 2016, through and including March 17, 2017, and lost ...