November 12, 2019 / 10:04 PM / 3 months ago

IN BRIEF: Maker of potential abuse-deterrent opioid settles investor lawsuit for $1.6 mln

Intellipharmaceutics International Inc has agreed to pay $1.6 million to resolve claims it misled investors about the extent it researched the abuse-deterrent nature of an opioid painkiller it was developing before seeking its regulatory approval.

Lawyers for a proposed class of shareholders on Monday asked a Manhattan federal judge to preliminarily approve a settlement resolving claims centered on the drug Rexista, which the U.S. Food and Drug Administration in 2017 declined to approve.

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