OTPP reaches settlement

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CANADA - Drugmaker Biovail Corporation has agreed to pay US$138m to settle a securities fraud class-action suit led by the Ontario Teachers' Pension Plan (OTPP) board.

OTPP co-led the prosecution on behalf of a class of investors who purchased Biovail common stock during the period 7 February, 2003 through 2 March, 2004. It was the second largest settlement of a ...

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