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News Breaks
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March 22, 2011
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| 08:06 EDT |  | KUN |
| theflyonthewall.com: | China Shenghuo Pharma announces settlement agreement for class action suit | | China Shenghuo Pharmaceutical Holdings announced the final approval by the court of a settlement agreement resolving and dismissing all claims asserted against the company in the consolidated class action lawsuit, Varghese, et al v. China Shenghuo Pharmaceutical Holdings, Inc., et al. The substantive allegations of the amended consolidated complaint have previously been summarized in SEC disclosures by China Shenghuo. China Shenghuo is contributing $200,000 towards a total settlement fund of $600,000. In settling and resolving all claims on a class basis, China Shenghuo has not admitted any wrongdoing and the settlement avoids the costs of continued litigation. :theflyonthewall.com |
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