Novavax reaches $47M settlement in principle to resolve securities class action

NOVAVAX INC

Company agreed to pay $47M into settlement fund; expects D&O insurance to fund it.
Settlement resolves surviving claims about alleged false statements on vaccine manufacturing and regulatory approval.
Class period: February 24, 2021 to October 19, 2021; court approval required.
Settlement includes customary releases and a disclaimer of liability by Novavax and named executives.
Previously, court dismissed some claims but allowed others to proceed; parties now seek to end litigation.

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