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Mealey's Securities/D&O Liability - Deficient Proposed Securities Class Action Settlement Against Drug Maker Denied

SAN DIEGO - A federal judge in California on Dec. 20 denied a motion for preliminary approval of a securities class action settlement between lead plaintiffs and a biopharmaceutical company and certain of its current and former senior executives, ruling that the proposed $900,000 settlement suffers from a number of deficiencies pertaining to its release of claims and proposed notice (In re Regulus Therapeutics Inc. Securities Litigation, No. 17-182, S.D. Calif., 2019 U.S. Dist. LEXIS 219125).
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