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BRIEF-Clovis entered settlement agreement for purported class action litigation

June 19 Clovis Oncology Inc:

* Clovis Oncology -on June 18,entered stipulation, agreement of settlement intended to settle purported class action litigation, Medina V. Clovis Oncology

* Clovis Oncology -under terms of proposed settlement, putative class of purchasers of co's securities to receive total consideration of about $142.0 million

* Clovis Oncology Inc - cash portion of proposed settlement is expected to be funded by company's insurance carriers - SEC filing

* Clovis Oncology - in connection with proposed settlement, expects to record charge to earnings in Q2 2017 in amount of about $142.0 million

* Clovis Oncology Inc - in connection with proposed settlement, expects to record receivable of about $25.0 million from insurance carriers in Q2 2017 Source text: (bit.ly/2tEtiYq) Further company coverage:

我们的标准: 汤森路透“信任原则

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