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Bioengineering
Northwest Biotherapeutics Settles Class Action Complaint, and SEC Investigation Closed Without Action
January 24th, 2009
Northwest Biotherapeutics, Inc. (OTC Bulletin Board: NWBO; AIM: NWBS and NWBT) (the "Company" or "NWBT") announced settlement of a putative securities class action lawsuit, In re Northwest Biotherapeutics, Inc. Securities Litigation, No. C-07-1254-RAJ. The Company has agreed to pay in settlement US$1 million, which is to be funded out of insurance proceeds. The settlement must be approved by the Court. Additional details about the settlement can be found in the formal settlement documents, which are available from the United States District Court for the Western District of Washington. The case alleged that the Company misrepresented certain facts that resulted in the artificial inflation...
Source: Law & Health Weekly (2009-01-24)
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