A tentative settlement has been reached in a long-running shareholder lawsuit that accused health care activist investor Alex Denner of making nearly $50 million from insider trading in connection with the 2018 acquisition of Bioverativ.
Denner, managing partner of Sarissa Capital Management, a health care hedge fund, had denied the accusations in the lawsuit filed in 2020 with Delaware’s Court of Chancery. Days before the scheduled start of the trial on Monday, the attorney representing the plaintiff notified the judge that the parties had “agreed to settle the remaining claims” in the suit.
No further details were provided, but a “stipulation of settlement” was expected to be filed with the court within 30 days, according to the letter sent to the judge.
