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Bristol-Myers Squibb Reports Preliminary Court Approval Of Derivative Settlement

Published: 20-Aug-2009

Bristol-Myers Squibb is providing shareholders with detailed notice of the terms of the proposed settlement on its website

Bristol-Myers Squibb has reported that the US District Court for the Southern District of New York has granted preliminary approval of settlement of Sampson v. Robinson, et al., Case No. 1:07-CV-06890 (on appeal: Case No. 08-5475), a shareholder action pursued derivatively on behalf of Bristol-Myers Squibb .

The action concerned allegations relating to the efforts to settle the Plavix patent litigation in 2006. The proposed settlement is subject to final Court approval.

Reportedly, the Court has set a final approval hearing for December 8, 2009 in the courtroom of the Honorable Paul Crotty, US District Judge.

As required by the Court’s Preliminary Approval Order, Bristol-Myers Squibb is providing shareholders with detailed notice of the terms of the proposed settlement on its website.

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