Judge Grants Preliminary Approval Of $40M Securities Class Action Settlement

NEW YORK - A federal judge in New York on Sept. 23 granted preliminary approval to a $40 million securities class action settlement between shareholders and a drug maker and certain of its current and former executive officers, who are alleged to have misrepresented clinical test results for a weight loss pill the drug maker was developing (In re Sanofi-Aventis Securities Litigation, No. 07-10279, S.D. N.Y.).

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