Emergent BioSolutions To Pay $40 Mln To Settle Securities Class Action Litigation

(RTTNews) - Emergent BioSolutions Inc. (EBS) announced on Friday that it has reached an agreement to settle the securities class action lawsuit pending in the United States District Court for the District of Maryland.

Under the terms of the proposed settlement, the company will pay $40 million to resolve the claims made on behalf of stockholders who purchased Emergent's shares from March 10, 2020, to November 4, 2021.

According to the proposed settlement, this amount will primarily be covered by insurance proceeds.

The settlement, pending court approval, does not involve any admission of liability or wrongdoing by Emergent or its current and former officers, directors, or employees. It aims to resolve all claims against the company and the other parties involved in the case.

The lawsuit was initially filed in 2021.