Innocoll Holdings Public Ltd. Co. and investors who say it misled them about its XaraColl post-surgical pain management product may move forward with a $2.75 million deal resolving the securities dispute, a federal judge in Pennsylvania said.
The settlement amount isn’t as high as the $22.9 million in damages the pharmaceutical company’s investors originally claimed, but nearly “12% is not an unreasonable recovery,” the U.S. District Court for the Eastern District of Pennsylvania said, granting the deal preliminary approval.
The settlement class consists of investors who acquired Innocoll securities from July 25, 2014, through and including Dec. 29, 2016, ...
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