BioMarin settles derivative suits; governance reforms and up to $1.25M fee cap

BIOMARIN PHARMACEUTICAL INC

Settlement resolves Wang v. Bienaimé and Tsantes v. Bienaimé derivative actions in Delaware Chancery Court.
BioMarin to implement corporate governance reforms (Exhibit A) for at least four years.
BioMarin will not oppose plaintiffs' counsel fee award not to exceed $1.25 million.
No admission of wrongdoing; defendants continue to deny all claims.
Settlement is subject to final approval by the Delaware Court of Chancery.

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