Settlement In Shareholder Derivative Lawsuit Fails To Gain Final Approval

Mealey's (May 21, 2018, 1:46 PM EDT) -- NEW YORK — Reforms agreed to by an investor and several former outside directors of an on-land and offshore wind turbine tower manufacturer in a proposed shareholder derivative lawsuit settlement fail to provide any meaningful benefit to the company the investor or the company’s shareholders, a federal magistrate judge in New York ruled May 17 in denying a motion for final approval of the settlement agreement (Alan Scott v. Benjamin Tianbing Wei, et al., No. 15-9691, S.D. N.Y., 2018 U.S. Dist. LEXIS 83645)....