A putative class action instituted by three shareholders against the nowbankrupt biotechnology company Biovest International, Inc., alleging misrepresentations about the performance of a non-Hodgkin’s lymphoma treatment vaccine, has apparently settled for $1.25 million. Hill v. Accentia Biopharmaceuticals, Inc., No. 13-1945 (U.S. Dist. Ct., M.D. Fla., unopposed motion for preliminary approval filed September 5, 2014). The plaintiffs alleged that the Accentia Biopharmaceuticals Inc. subsidiary and its board of directors violated federal securities laws by issuing false and misleading press statements indicating that its BiovaxID vaccine succeeded in a key clinical trial and that it intended to seek approval for it in the United States and internationally. When the truth about the trial was revealed, i.e., federal regulators had determined that the data sets were not sufficient to support a biologics license application and required a plan for additional research that was never carried out, Biovest shares reportedly lost 70 percent of their value and the company filed for bankruptcy protection. The motion for preliminary approval of the settlement seeks to certify all those who held Accentia or Biovest shares from July 2008 through August 2012. See Law360, September 5, 2014.