"The $4,000,000 cash settlement represents approximately 10.4% of estimated damages and is well above similar average settlements in securities litigation," wrote U.S. District Judge Nitza Quiñones Alejandro of the Eastern District of Pennsylvania.
September 17, 2021 at 04:21 PM
2 minute read
A federal judge in Pennsylvania has given final approval to a $4 million settlement—of which $1.3 million is devoted to attorney fees—that resolves securities litigation against pharmaceutical company Zynerba.
The payout settles litigation involving claims that Zynerba violated the Securities and Exchange Act and was approved by U.S. District Judge Nitza Quiñones Alejandro of the Eastern District of Pennsylvania.
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Nitza I. Quinones Alejandro, during her confirmation hearing before the Senate Judiciary Committee, to be U.S. District judge for the Eastern District of Pennsylvania on Feb. 13, 2013. Photo by Diego M. Radzinschi/ALM
