Progenity Inc. investors’ $1 million class settlement with the bankrupt biotech company’s leaders and underwriters deserves final approval, a federal court ruled.
Judge Ruth Bermudez Montenegro of the US District Court for the Southern District of California previously dismissed the case, and the parties reached an accord while the case was on appeal. The settlement amount provides adequate relief to the class, given that “the substantial risks to Plaintiffs’ case are readily apparent from the Court’s previous orders dismissing their complaints,” Montenegro said.
- Investors said Progenity, later called Biora Therapeutics inc., failed to disclose in advance of its initial ...