Bristol-Myers’ $239 Million Celgene Investor Deal Gets Court Nod

Bristol-Myers Squibb Co. earned a federal judge’s preliminary blessing of its $239 million settlement to resolve Celgene Corp. investor allegations the acquired company misrepresented approval prospects for a multiple sclerosis drug and a psoriasis treatment’s sales.

Both sides were likely well attuned to their positions’ strengths and weaknesses when hashing out the class deal, partly evident given that they made an agreement with a 2026 trial date looming, Judge Michael E. Farbiarz said while preliminarily approving it Dec. 5. The deal in the US District Court for the District of New Jersey would end nearly eight years of litigation ...