Shareholders To Pay $8.5M To Settle Claims In Securities Class Action Lawsuit
Mealey's (June 10, 2016, 8:55 AM EDT) -- PHILADELPHIA — Urban Outfitters Inc. and certain of its executive officers will pay $8.5 million to settle claims that they misrepresented the clothing retailer’s business and financial condition in violation of federal securities laws, according to a stipulation of settlement filed June 8 in Pennsylvania federal court by the lead plaintiff in the action (In re Urban Outfitters Inc. Securities Litigation, No. 13-5978, E.D. Pa.; 2016 U.S. Dist. LEXIS 24915).
(Stipulation of settlement available. Document #57-160620-057B.)
Under the terms of the settlement, which is subject to...