ImmunoCellular announces agreement on terms of settlement of class action suit
ImmunoCellular Therapeutics announced that it has reached an agreement in principle to settle the securities class action suit, filed on May 1, 2017 in the United States District Court for the Central District of California, captioned Arthur Kaye IRA FCC as Custodian DTD 6-8-00 v. ImmunoCellular Therapeutics, Ltd. et al., Case No. 2:17-cv-03250, against the company, certain of its current and former officers and directors, and others. The tentative agreement, which is subject to final documentation and Court approval, provides in part for a settlement payment of $1.15 million in exchange for mutual releases and the dismissal of all claims against the company and its officers and directors in connection with the securities class action suit. The $1.15 million settlement payment will be fully funded by the company's insurance carrier.