Bristol-Myers $239 Million Celgene Investor Deal Gets Assent (1)

Bristol-Myers Squibb Co. earned a federal judge’s final approval of a $239 million class settlement, resolving allegations from investors that acquired company Celgene Corp. misrepresented a multiple sclerosis drug’s approval prospects and a psoriatic arthritis treatment’s sales.

Judge Michael E. Farbiarz‘s final blessing of the deal May 8 ends eight years of litigation against the pharmaceutical company that Bristol-Myers bought out in 2019 and two former Celgene executives. A reasonable jury could’ve found the former executives acted with the level of intent for securities fraud claims when they failed to disclose the risk that the Food and Drug Administration ...