10:05 AM EST - Biovail Corp. : has agreed to pay US$138 million to settle class-action shareholder litigation in the United States. The proposed settlement class includes, with some exceptions, everyone who bought stock in Toronto-based Biovail during the period from Feb. 7, 2003, to March 2, 2004. The settlement is subject to approval by the U.S. District Court for the Southern District of New York and Biovail estimates it will ultimately pay about US$85 million after insurance claims. Biovail Corp.
shares T.BVF are trading down 11 cents at $14.84.
