Faruqi & Faruqi, LLP Announces Preliminary Court Approval of Settlement in McIntyre v. Chelsea Therapeutics International, Ltd., et al.

Faruqi & Faruqi LLP is pleased to announce the Court’s preliminary approval of a settlement in MacIntyre v. Chelsea Therapeutics International, Ltd., et al., Case No. 3:12-CV-213-MOC-DCK (W.D.N.C.).  The settlement provides for $5,500,000 in cash to be paid to class members who purchased or otherwise acquired Chelsea common stock between September 20, 2010 and May 21, 2012, both dates inclusive.  A final approval hearing on the settlement will be held on September 19, 2016, at 10:00 a.m., at the United States District Court for the Western District of North Carolina.  Notice will be provided to class members in the upcoming weeks, and information about the settlement will also be posted online at www.ChelseaTherapeuticsSettlement.com.  In the meantime, a copy of the Court’s order preliminarily approving the settlement can be found at the link below.