(Bloomberg) ? Shares of Elan Corp., Ireland?s biggest drugmaker, rose 1.5 percent after the company said yesterday it will pay $90 million to settle a shareholder lawsuit and a US Securities and Exchange Commission fine. Dublin-based Elan said it will pay $75 million to settle a shareholder lawsuit and a $15 million fine to resolve a SEC complaint into the company?s accounting. The company didn?t admit wrongdoing in the SEC settlement.

Shares rose 30 cents to 19.75 euros at the close of trading in London. They have almost quadrupled this year. ?This is great news and in line with expectations with respect to both timing and the amount,? Morgan Stanley analysts wrote in a note to investors. Elan?s former management created partnerships by investing in smaller drugmakers and biotechnology companies. It then sold securities, called EPILs, backed by the investments. The SEC investigated how Elan accounted for the EPILs, which are based in Hamilton, Bermuda. The SEC complaint accused the company of violating provisions of federal securities laws that prohibit companies from using manipulative or deceptive practices.