Ampio Pharmaceuticals (NYSE:AMPE) Enters Proposed Settlement for Stockholder Derivative Actions

On January 21, 2025, Ampio Pharmaceuticals, Inc. disclosed in an 8-K filing that the District Court, City & County of Denver, State of Colorado, issued a Preliminary Approval Order for a proposed settlement involving three stockholder derivative actions and two demands related to the Company’s AP-013 trial for Ampion.

The settlement, subject to court approval, was reached through a Stipulation of Settlement dated January 8, 2025, involving plaintiffs Jordan LeaJames (McCann), Robert Maresca, Samantha Marquis, stockholders Satheesh Thomas, and Dirk McKnight, the Company as the nominal defendant, and individual named defendants. A hearing has been scheduled for April 7, 2025, by the Court to review final approval of the proposed settlement.

As part of compliance with the Preliminary Approval Order, Ampio Pharmaceuticals is submitting the Stipulation of Settlement and the Notice of Proposed Derivative Settlement alongside the 8-K filing. Noteworthy is the dissolution of the Company on August 16, 2024, as per Section 278 of the Delaware General Corporation Law, functioning solely for specific purposes such as defending suits and discharging obligations.

The proposed settlement aims to fully resolve the mentioned derivative actions and demands, subject to the stipulated terms. The Company reiterates that the 8-K submission is solely in response to the Preliminary Approval Order and that no additional reporting obligations are triggered by this filing.

Furthermore, the Stipulation of Settlement outlines specific reforms and procedures that the Company is required to adopt and maintain should the settlement gain final approval. The settlement, if approved by the Court, would signify the conclusion and dismissal of the derivative actions and demands. Investors and shareholders can refer to the filed Stipulation of Settlement for detailed information on the proposed resolution.

For further details, including the full content of the Stipulation and related exhibits, interested parties are encouraged to visit the Company’s website. It’s clear that Ampio Pharmaceuticals is actively engaged in reaching a comprehensive settlement regarding the mentioned legal matters in an effort to conclude pending issues effectively.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Ampio Pharmaceuticals’s 8K filing here.

About Ampio Pharmaceuticals

Ampio Pharmaceuticals, Inc, a biopharmaceutical company, develops therapies for the treatment of osteoarthritis of the knee (OAK) in the United States. It develops OA-201, a small molecule formulation for the treatment of OAK pain. The company is headquartered in Englewood, Colorado.