A federal judge has approved the settlement of a class-action shareholder’s suit against Cell Pathways Inc. of Horsham in which the pharmaceuticals company will pay the plaintiffs $2 million in cash and 1.7 million shares of CPI common stock.
In a 41-page opinion handed down on Monday, U.S. District Judge Mary A. McLaughlin also awarded attorney fees equal to 30 percent of the settlement fund to a team of plaintiffs lawyers led by Sherrie Savett of Berger Montague and David Kessler of Schiffrin & Barroway.
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