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Replies to post #90 on SciClone Pharmaceuticals, Inc. (SCLN)

Replies to #90 on SciClone Pharmaceuticals, Inc. (SCLN)

surf1944

12/30/11 11:32 AM

#91 RE: surf1944 #90

SciClone announces final settlement of stockholder derivative litigation
Theflyonthewall.comTheflyonthewall.com – Thu, Dec 15, 2011 7:01 AM EST

SciClone Pharmaceuticals announced that the California Superior Court for the County of San Mateo has granted final approval of a settlement reached by the parties to the consolidated derivative lawsuits against certain of its current and former directors and officers of SciClone Pharmaceuticals, and against SciClone as a nominal defendant. In summary, the final settlement provides for the litigation to be dismissed and for the Company to adopt certain governance measures. In addition, the settlement provides for the payment of attorney's fees to counsel for the plaintiffs, and SciClone's insurers to pay for substantially all such fees. For additional details regarding the litigation and the settlement terms, please see SciClone's press release dated October 12.