Judge OKs SmithKline Settlement: U.S. District Court...
From Times staff and Wire reports
Judge OKs SmithKline Settlement: U.S. District Court Judge Raymond Broderick approved a $22-million settlement of a class-action suit filed in 1988 by stockholders of what was then SmithKline Beckman Co., shareholders’ attorneys said. The shareholders accused the Philadelphia-based pharmaceutical firm of misleading investors and not disclosing information that would have hurt its stock price. The judge made no decision on the validity of investors’ claims. The company, now SmithKline Beecham, has denied any liability or violation of the law.
