Georgia court approves T(2) settlement:
This article was originally published in Clinica
The US District Court for the Northern District of Georgia has approved an agreement to settle a consolidated shareholder class action litigation involving T(2) Medical, a subsidiary of Coram Healthcare (Denver). The agreement, announced last October (see Clinica No 623, p 16), resolves litigation relating to claims asserted against T(2) Medical and certain of its former directors and officers, based on events which had occurred prior to the four-company merger which resulted in the formation of Coram. It states that Coram, on behalf of all defendants, will pay to the shareholder class $25 million in cash and will issue warrants to acquire an aggregate of 2.52 million shares of Coram common stock at an initial per-share exercise price of $20.25, subject to adjustment.