December 5, 2016 / 1:47 PM / in 10 months

BRIEF-Novelion Therapeutics' unit enters into agreement

Dec 5 (Reuters) - Novelion Therapeutics Inc :

* Aegerion Pharmaceuticals, a subsidiary of Novelion Therapeutics, enters into agreement in principle to settle class action shareholder lawsuit

* Agreement provides for an aggregate settlement payment by or on behalf of Aegerion of $22.25 million

* Novelion Therapeutics - expects $22 million of settlement will be funded by Aegerion’s insurance proceeds and $250,000 will be funded by Aegerion

* Novelion Therapeutics - settlement would include dismissal of all claims against aegerion and named individuals in class action litigation

* Also announced plans to undertake a reverse stock split of shares on basis of a consolidation ration of one for five

* Consolidation is expected to take effect on or about December 16, 2016 Source text for Eikon: Further company coverage:

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