Court preliminarily approves settlement in The Medicines Co.'s cangrelor case
On May 12, the United States District Court for the District of New Jersey issued an order preliminarily approving a proposed settlement by and among The Medicines Company, the plaintiffs, and all named individual defendants in the shareholder derivative action Case No. 2:17-cv-01597 related to the company's clinical trial of cangrelor. The proposed settlement requires the company to implement certain corporate governance measures and pay certain attorneys' fees and expenses to plaintiff's counsel in an amount to be determined by the court. A hearing to determine whether the court should issue an order of final approval of the settlement has been scheduled for September 21, 2017 at 10:30 a.m. in Courtroom MLK 5B of the United States District Court for the District of New Jersey, Martin Luther King Building & United States Courthouse, 50 Walnut Street, Newark, New Jersey 07101 to determine whether the terms and conditions of the settlement are adequate, fair and reasonable. Pursuant to the court's order, any objections to the settlement must be filed in writing with the court by no later than August 17, 2017.