July 31, 2018 / 9:26 PM / 3 months ago

Kitov Pharmaceuticals settles investor lawsuit for $2 million

Kitov Pharmaceuticals Holdings Ltd has agreed to pay $2 million to resolve a shareholder class action claiming it misled investors by failing to disclose that clinical study results for a drug the Israeli pharmaceutical company was developing were falsified.

The settlement, disclosed in papers filed in federal court in Manhattan on Friday, came after the drugmaker and Chief Executive Isaac Israel in March lost a bid to dismiss the claims against them in the shareholder lawsuit.

To read the full story on WestlawNext Practitioner Insights, click here: bit.ly/2vlvSF2

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