An anonymous director reports
AETERNA ZENTARIS ANNOUNCES SETTLEMENT OF PREVIOUSLY DISCLOSED CLASS-ACTION LAWSUIT
Aeterna Zentaris Inc. has settled the previously disclosed class-action lawsuit against it pending in the United States District Court for the District of New Jersey. The settlement payment will be financed entirely by the company's insurers.
The previously disclosed class-action lawsuit alleged that the company and certain of its current and former officers and directors violated the Securities Exchange Act of 1934 in connection with certain public statements made between Aug. 30, 2011, and Nov. 6, 2014, regarding the safety and efficacy of Macrilen (macimorelin) and the prospects for the approval of the company's new drug application for the product by the Food and Drug Administration.
The settlement remains subject to execution of final settlement documents and approval by the U.S. District Court for the District of New Jersey.
About Aeterna Zentaris Inc.
Aeterna Zentaris is a specialty biopharmaceutical company commercializing and developing therapeutics and diagnostic tests.
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