November 12, 2019 / 10:04 PM / a month 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.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2O5wVlZ

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